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The Australian Bureau of Statistics (ABS) today released its labour force report for February, which registered a huge 0.5% fall in the official unemployment rate to 5.8% off a 0.7% increase in jobs:
Unemployment has tanked since peaking in July 2020.
Full-time jobs surged by 89,100 in February whereas part-time jobs fell by 500:
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
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