While the Prime Minister basks in the glory of the Labor conference, work force data released today shows Australian workers and businesses are doing it tougher than ever.
Against market expectations, the unemployment rate rose to 3.7% and the number of full-time jobs dropped by 24,200 in the month of July. Concerningly the participation rate also decreased.
Part-time employment rose by 9,600 jobs, which was not surprising considering the number of full-time jobs that were lost.
Shadow Treasurer Angus Taylor said: “Under Labor we’re seeing our economy shuddering to a halt with Australians now losing jobs, productivity falling off a cliff, flatlining GDP growth and a year of real wage declines.”
“Labor’s cost of living crisis is at risk of morphing into a full-blown economic crisis,” Mr Taylor said.
“Instead of treating inflation and cost of living pressures as it’s first, second and third priority, Labor is distracted and refusing to deal with the core issues impacting Australians’ daily lives.”
Shadow Minister for Employment Senator Michaelia Cash said: “Today’s increase in unemployment is concerning, especially on the back of confirmation earlier in the week that real wages are continuing to go backwards under Labor.
“Mr Albanese has taken the strong labour market left by the previous Coalition Government for granted and is not interested in strengthening our economy,” Senator Cash said.
“Mr Albanese has no plan whatsoever to boost productivity, reduce cost of living pressures or create more job opportunities for Australians,” she said.
“Labor is instead focused on rewarding its union mates for their political and financial support,” Senator Cash said.
“Today’s figures show Labor needs to abandon its next wave of job destroying industrial relations changes, which will attack casual workers and those who choose to work as contractors or in the gig economy,” Senator Cash said.
