Economic Buzz: Australia unemployment rate increase to 4.3% in February

The seasonally adjusted unemployment rate in Australia increased to 4.3 per cent in February, according to the latest data from the Australian Bureau of Statistics (ABS). The number of unemployed people grew by 35,000, contributing to the 0.2 percentage point increase of the unemployment rate in February. Employed people grew by 49,000. Part-time employment rose by 79,000 people, while full-time employment fell by 30,000 people. Hours worked fell 0.2 per cent this month, with more people working part-time hours instead of full-time hours. The growth in both employment and unemployment has resulted in a 0.2 percentage point increase to the participation rate, which was 66.9 per cent in February.

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