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The national unemployment rate inched up in December from 4.4 to 4.5 per cent official figures from the ABS showed yesterday.
While part time positions, which increased by a surprising 42,800, kept the unemployment rate from blowing out, full time employment suffered the biggest fall in almost six years – full-time jobs decreased by 43,900.
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The statistics confirm the slowing economy is taking its toll on businesses; earlier this week an analysis of job advertisements by ANZ showed the total number of jobs advertised in December was down 30 per cent from December 2007.
The government has forecast the unemployment rate to reach five per cent by June this year however there are fears the jobless rate may hit seven per cent by 2010.
