Thursday March 12, 04:00 AM
Australia jobless rate at four-year high of 5.2 pct
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MELBOURNE (AFP) - Australia's unemployment rate rose to a four-year high of 5.2 percent in February as the number of full-time jobs slumped, according to official data released Thursday.
Prime Minister Kevin Rudd said the figures showed the government was right to press ahead with a 42 billion Australian dollar (27.3 billion US) economic stimulus package.
"Had we waited and done nothing, instead of acting decisively, these unemployment figures would be much worse," he said.
The jobless rate was up 0.4 points from the previous month, the statistics bureau said. Full-time employment fell by 53,800, while the number of part-time jobs rose 55,600.
Economists had expected total employment to decline by 20,000 and a jobless rate of 5.0 percent.
Unemployment was higher despite the net 1,800 increase in jobs because of a rise in the number of people actively looking for work.
The government had not expected the jobless rate to reach 5.0 percent until June. Official forecasts predict it will hit 7.0 percent by mid-2010
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