State jobless rate drops to 2.8 percent in September

Unemployment rate hits seven-year low

Unemployment rate hits seven-year low

The RBA's latest forecasts have the unemployment rate at 5-1/2 percent by the end of 2018 and 5-1/4 percent by the end of 2019.

"Given Australia's experience to date, and the experience of a number of overseas economies, it is likely that the unemployment rate will have to track below current estimates of the NAIRU for some time before material wage pressures emerge", the report also commented.

"The state's labor market is strong", said Paul Turek, economist for the department.

Mr Pickering said the highlight was continuing strength in full-time jobs, which have accounted for over 70 per cent of employment growth during 2018.

The underemployment rate - the measure of people in work, but looking for more hours - fell to 8.3 per cent. Additionally, August's job loss was revised downward from 200 jobs lost to 2,500 jobs lost. In September 2017, the national unemployment rate was 4.2 percent.

Biden says American values are being ‘shredded’ under Trump
Reed predicted that Republicans would keep their losses to 20 House seats, just under the 23 Democrats need to return to power. The generic congressional ballot, one measure often used in public polls, shows Democrats in position to capture the majority.

Private sector employment increased by 3,900 while the public sector added 600 jobs in September.

Trade, transportation and utilities led all sectors in September with a gain of 1,200 jobs, followed by government (up 1,100 jobs), financial activities (up 900 jobs), construction (up 300 jobs), and information and professional and business services (each up 200 jobs).

The industries cutting payroll positions in September include; leisure and hospitality (-1,700), manufacturing (-1,600), other services (-1,300) and education and health care (-700).

"Recent worldwide experience indicates that the unemployment rate could decline further than historical experience would suggest before we see a material increase in wages growth", Deputy Governor Guy Debelle said in a speech about the labor market on Wednesday.

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