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March 8th, 2012 
FAKE NEWS for the Zionist agenda Opposition treasury spokesman Joe Hockey says the latest national accounts and jobs figures show that the economy has been operating well below its potential for some time.
Thursday’s labour force report that showed a 15,400 fall in the number of people employed and a rise in the jobless rate to 5.2 per cent in February, and came just 24 hours after data showed the economy grew by just 0.4 per cent in December quarter.
“Nearly 16,000 jobs have been lost since employment peaked in March 2011,” Mr Hockey said in a statement.
He said it “makes a mockery” of Treasurer Wayne Swan’s claim that his 2011/12 budget was all about jobs, jobs, jobs.
While the unemployment rate has been stable around five per cent for the past eight months or so, this has only been possible because of a fall in the participation rate, he said.
“The results are a scathing endorsement of this government’s workforce and economic policies,” Mr Hockey said in a statement.
“Both yesterday’s weaker than expected GDP growth, and today’s soft labour market outcome confirm that the economy has been operating well below potential for some time.”
He said it was “nothing short of economic vandalism” for the government to be imposing its new carbon tax and mining tax, which will hamper business activity, and destroy jobs.
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