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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.
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.
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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.
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