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Minister optimistic despite unemployment rise

Treasury Minister Eddie Teare says he’s still optimistic about the economy’s prospects despite disappointing unemployment figures.

The data from January showed a jump of almost 160 people signing on, with the unemployment rate rising from 2.3 per cent to 2.6.

But Mr Teare says the rise can be partly attributed to seasonal variations such as Christmas shop staff being laid off, as well as a traditionally quieter time in the construction industry.

He says the Island’s economy is already split in two – and it’s our domestic side that’s suffering:

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