The latest jobless numbers have dropped despite the ongoing impacts from covid-19.

The Unemployment rate has fallen to 4.9 per cent - down from 5.3 per cent in the September Quarter.

It's now returned to a rate observed over three years ago.

The news has come as a shock to economists, who expected it rise to about 5.6 per cent.

ANZ Chief Economist Sharon Zollner told Heather du Plessis-Allan her jaw dropped when she saw the news - but is pleased that the figure is so low.

"What this data suggests is there will be other opportunities for these people who are affected."

She says they expect the unemployment rate to bounce around as the country continues to recover from Covid-19 - but 2021 is likely going to be hard to predict. 

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