Fed: Jobless rate 6.2pc in March - ABS

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Fed: Jobless rate 6.2pc in March - ABS

The jobless rate edged up to 6.2 per cent in March after a 42,800 plunge in employment,driven by a collapse in full-time positions.

The Australian Bureau of Statistics says the number of people with full-time jobs fell64,800 in March and part-time jobs rose 21,900.

The participation rate fell to 64.1 per cent from 64.4 per cent, reflecting a dropin the number of people in the workforce.

But the ABS says the number of people looking for full-time work rose by 23,300 andthe number of people unemployed increased by 15,900.

The unemployment rate hit a 13-year equal low of six per cent in February and marketswere expecting a correction, but not a jobs drop of the magnitude recorded by the ABS.

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KEYWORD: JOBS (CANBERRA)