The unemployment rate fell to 5.3 percent in the December 2015 quarter (from 6.0 percent), meaning 16,000 fewer people were unemployed than in the September 2015 quarter. This is the lowest unemployment rate since March 2009. Employment has been especially strong for 20 to 29 year olds, with 26,800 more people employed in this age group over the year.
Annual wage inflation, as measured by the labour cost index, eased to 1.5 percent in the last quarter, the lowest since the year to March 2010 quarter. This compares with low annual consumer price inflation of 0.1 percent.