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Nation's unemployment rate drops to 3.8 percent

The unemployment rate declined to 3.80 percent last month from 3.83 percent in December, the lowest level for that month in seven years, largely as a result of a decline in first-time job seekers, the government said yesterday.

However, last month's figures were up from 3.79 percent in the same month a year ago, the Directorate General of Budget, Accounting and Statistics said (DGBAS).

DGBAS said 411,000 people were unemployed last month, a decline of 3,000 from the month before.

A decline of 4,000 in the number of first-time job seekers contributed to the rate drop.
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