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UNEMPLOYMENT has fallen to a 23-year low of 5.5 per cent in Australia, with experts suggesting it could fall further.
The surprising result in the official May figures, the best since June 1981, means few people in the workforce aged under 40 have ever experienced a stronger jobs market.
Federal Employment Minister Kevin Andrews said there were signs that jobs growth would continue in the months ahead.
Two surveys of job advertisements one conducted by the ANZ Bank and the other by the recruitment firm Olivier - have found that job postings on the internet rose by 4.7 per cent in May.
A recent survey of businesses conducted by the National Australia Bank found that companies intended to increase their employment prospects ' over coming months.
Senior economist with Westpac Bank, Andrew Hanlan said that the trend for employment growth over the past six months of about 18,000 new jobs a month was likely to continue.
Reserve Bank governor Ian Macfarlane has said that he does not believe there is a minimum level for unemployment beyond which inflation starts to rise.
The fall in unemployment does not therefore make an increase in interest rates more likely.
Mr Hanlan said there was no sign of immediate significant wage pressures.