Australia’s unemployment rate falls to 3.5% – the lowest in almost 50 years

Fall in unemployment rate from 3.9% to 3.5% is higher than forecast by most economists and brings rate to the lowest point since August 1974

Australia's unemployment rate plummeted to 3.5% in June, the lowest rate in 48 years.

This is the lowest unemployment rate since August 1974, when it was 2.7% and the survey was quarterly," Australian Bureau of Statistics head of labour data Bjorn Jarvis said on Thursday.