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(CEP News) - An unexpected rise in January employment in Australia was again repeated on Thursday (Wednesday EDT) when the Australian Bureau of Statistic reported a modest increase of jobs for February.
The Australian employment sector created 1,800 jobs while the number of unemployed persons rose 47,100, boosting the unemployment rate to 5.2% from 4.8% last month. Economists were expecting a rise in the unemployment rate to 5.0% and 20,000 jobs lost. However the result is not as optimistic as it sounds with full-time employment decreasing by 53,800 to 7,664,200 while part-time employment increased by 55,600 to 3,146,200. The report also said that the participation rate fell to 65.5% against expectations for a fall to 65.0% from 65.1% in January. By Erik Kevin Franco,
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