Unemployment at 3.5%: why Australia’s jobless rate is at its lowest since 1974 | Jeff Borland for the Conversation

It's been almost 50 years since Australia had an unemployment rate lower than this. How did we get here and what about wages?

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The official unemployment rate in June fell to 3.5%. It's almost 50 years - August 1974, to be exact - since it was lower.

How we got there was through more people getting hired: 88,400 people compared with 60,600 the month before.