Australia’s unemployment rate drops to lowest point in more than 13 years

A waiter greets patrons at an outside dining area in Melbourne. Unemployment was down in December to the lowest figure since before the global financial crisis. Photograph: James Ross/AAP

Australia’s jobless rate dropped to the lowest in more than 13 years as the economy burst out of the post-lockdown gates in late 2021, generating momentum that has prompted one of the nation’s big four banks to bring forward its prediction of the first hike in official interest rates.

The economy added 64,800 jobs in December, lowering the unemployment rate to 4.2% from a previously reported 4.6% in November when a record number of extra positions were taken up, the Australian Bureau of Statistics said.