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Australia's unemployment rate has dropped to an almost two-year low, according to new data released by the Australian Bureau of Statistics on Thursday.
The data found that almost 300,000 more Australians are employed compared to this time last year, a figure which reflects trend of lowered unemployment rates around the nation.
The figures contradict economist expectations, with many forecasting the jobless rate would rise through 6 percent in November. Instead, the official jobless rate fell to 5.8 percent.
Bruce Hockman, General Manager of ABS' Macroeconomic Statistics Division, said the increase over the last twelve months highlighted the resilience of the Australian economy.
"The trend shows that around 293,000 more people were employed in November 2015 than in November 2014; an increase of 2.5 per cent," Hockman said.
Despite the positive news, the states of Victoria and Tasmania experienced a small rise in unemployment, alongside Western Australia which is still recovering from the end to the 'mining boom'.
However, the statistics also showed that 71,400 new jobs were created throughout November, 41,000 of which were full time positions.
National Australia Bank (NAB) economist Tapas Strickland told the Australian Associated Press (AAP) that the unemployment rate could continue to drop on the back of a strong labor force.
"The forward indicators, such as jobs ads, suggest employment growth of two per cent a year, and when you do the calculations, that implies 20,000 (jobs added) per month," he said.
The Australian government is also hoping that recent free trade agreements signed with Asian nations, such as China, could also promote further growth and jobs in Australia through 2016.
