The jobless rate dropped to 3.5 per cent in June, down 0.4 percentage points from May.
"Accordingly, the policy debate at the August RBA meeting will likely be between a 50 versus 75bp hike, and a 100bp hike cannot be ruled out given how other central banks are weighing these risks," said NAB economist Taylor Nugent."I think the Reserve Bank will remain under pressure to raise rates again at their August meeting, " he told ABC News on Thursday.
Deutsche Bank economist Phil O'Donaghoe said it was one of the best labour market reports in Australian history. CommSec senior economist Ryan Felsman called it a "staggering low" and a "remarkable" figure, a sign of an "incredibly tight" labour market, while economist Alice Cho, from financial services company Nomura, called it a "stunningly strong" report.The unemployment rate fell for both men and women, both by 0.4 per percentage points. The 3.4 per cent unemployment rate for women was the lowest since February 1974, while the 3.
Full-time jobs have now increased for eight straight months and Mr Oliver said he expects the unemployment rate would likely fall further, to about 3.2 per cent in the next three to six months.
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