Australia's jobless rate fell to 5.4 per cent in May, beating market expectations. The unemployment rate fell to 5.4 per cent from 5.6 per cent in April, with employment growing by 12,000 jobs and the participation rate falling by 0.2 points to 65.5 per cent, according to figures from the Australian Bureau of Statistics. Most economists were expecting an increase of 19,000 jobs and an unemployment rate of 5.6 per cent.