The unemployment rate has fallen to its lowest level in almost eight years, although its move below 5 per cent was largely driven by fewer people looking for work. In seasonally adjusted terms, the unemployment rate came in at 4.9 per cent, its lowest level since June 2011. ABC's Peter Ryan says the rate of job creation slowed with 4,600 new jobs over the month, a marked step down from the 39,100 jobs in January.

Unemployment drops below 5 per cent for the first time in eight years

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Peter Ryan is the one of the ABC's most experienced journalists, contributing to a range of ABC News programs including the flagship radio current affairs program AM, The World Today, PM and ABC NewsRadio.

With more than 30 years of journalism experience, Peter  rejoined the ABC in 2003 as Executive Producer of the ABC Television's Business Breakfast program.

In 2006, he oversaw the development of two new business programs - Lateline Business on ABC Television and Business Today on the ABC's Asia Pacific television service, Australia Network.

Peter's previous journalism career included three years as the ABC's Head of TV News and Current Affairs in Melbourne; more than four years as Bureau Chief and television correspondent at the ABC's Washington Bureau; a year as a producer at the BBC in London; and a range of ABC reporting and producing roles in Melbourne, Sydney, Darwin and the South Pacific.

In addition to journalism, Peter Ryan spent four years in the corporate communications sector as a Director at Weber Shandwick Worldwide and then as a Principal at Porter Novelli in Melbourne.

Peter began his journalism career in newspapers at Sydney's Daily Mirror and he worked in Sydney commercial radio before joining the ABC in 1984.

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Unemployment drops below 5 per cent for the first time in eight years

PeterRyan