How long before such a tight employment market in Sydney results in higher wages? Their is still a lot of projects 5/10 years worth in pipeline for Sydney so will this tight employment market continue. Unemployment rate falls to boom-time levels for nearly half of economy Extract from article above. " Sure, national employment growth was healthy again last month as the unemployment rate remained at 5.4 per cent – but in the economic powerhouse of Greater Sydney the unemployment rate probably started with a 3. In October, the unemployment rate for the Greater Sydney statistical area was just 3.9 per cent. That’s the stuff of booms. The last time Greater Sydney scored 3.9 was in 2007. It hasn’t been below 3.9 for 17 years. "