More jobs are being created in Australia, with job numbers continuing to grow according to the latest Labour Force Survey data released today by the Australian Bureau of Statistics.
Last month, saw modest job creation of 15,900 new jobs (9,700 of which were full-time positions) bringing the total number of new jobs created under the Albanese Government to 1,056,200 since May 2022.
This is the highest level of job creation in a single parliamentary term for any Australian government of any political persuasion.
Pleasingly, this also includes 652,000 full-time jobs, which represents 61.7% of all jobs growth.
It is also encouraging to note that of the 515,700 jobs created for women since the Government came to office, 61.5 per cent have been full-time positions.
This is a remarkable achievement, in the context of a slowing economy and a labour market that is expected to soften.
It’s also a tribute to workers and employers and it results from the responsible way we’re managing the Australian economy.
While Labor continues to create more jobs, Peter Dutton wants to make it easier to sack workers. Just yesterday, Peter Dutton refused to rule out changing workplace laws to allow more employers to unfairly dismiss their workers.
At a time when many Australians are doing it tough, Peter Dutton will make things worse.
Today’s ABS Labour Force Survey data show that despite significant global headwinds, the unemployment rate remained at 4.1 per cent in October, for the third consecutive month, against the backdrop of steady employment growth.
Jobs growth was also strong for young people, with employment increasing by 11,800 (or 0.5 per cent) in October and by 76,900 (or 3.5 per cent) over the year, to a record high of 2,262,800.
Moreover, while the participation rate fell marginally over the month, to 67.1 per cent in October, it remained close to its record high, of 67.2 per cent recorded in the previous month, as strong labour market activity has encouraged more people to enter the labour force over the year.
Today’s figures back up yesterday’s wage outcomes, which showed that real wages have now grown for four consecutive quarters under the Albanese Government. In stark contrast, under the Coalition, real wages were going backwards by 3.4 per cent and went backwards in the five quarters leading up to the last election.
The Government is committed to tackling the inflation challenge while rolling out responsible cost of living relief, along with better, safer work conditions. These policies, along with our changes to workplace laws, are contributing to strong and sustainable wage growth for workers.
Quotes attributable to Treasurer Jim Chalmers:
“Wages are growing, inflation is falling and more than a million jobs have been created under the Albanese Government which is a record for a Parliamentary term.
“Global uncertainty, higher interest rates and cost-of-living pressures have seen our economy and labour market soften in recent months.
“While our labour market has remained resilient to date and helps us confront these challenges from a position of strength, it is softening around the edges with more modest employment growth last month.
“We recognise people are under the pump and more than recognise it, we’re doing something about it.
“Our focus is on easing the cost of living, getting more people into work and helping Australians earn more and keep more of what they earn, and we’re making good progress.”
Quotes attributable to Minister for Employment and Workplace Relations, Murray Watt:
“This is another great result that is helping more Australians deal with cost of living pressures.
“There’s nothing more important than having a well-paid job, so that you can pay your bills, and that’s what the Albanese Government is delivering.
“In contrast, Peter Dutton has promised to make life harder for people, by cutting wages and conditions and making it easier to get the sack.”
