The national unemployment rate has fallen to its lowest level in almost eight years but there are signs the jobs market may be easing, with large increases in jobless rates in NSW and Victoria.

The Australian Bureau of Statistics on Thursday reported the unemployment rate edged down to 4.9 per cent in February, from 5 per cent. It is the lowest jobless rate since June 2011 and below market expectations of 5 per cent.

The total number of Australians in work in February rose by just 4600. Credit:Michele Mossop

But the fall was due to a drop in the number of people looking for work.

The total number of Australians in work in February rose by just 4600. Markets had been expecting a 15,000 increase.