February 18 – Minister for Employment Senator the Hon Michaelia Cash said the underlying trend of the Australian labour market continues to demonstrate encouraging resilience, despite facing international headwinds and share market turmoil.
Figures released today show seasonally adjusted employment stands at 298,300 (or 2.6 per cent) higher than it was this time last year and well above the decade average of 1.8 per cent.
“There is still considerable underlying strength in the labour market. The overall trend and the statistics show the Australian labour market is holding up well,” Minister Cash said.
“Participation has increased slightly to 65.2 per cent, employment is higher than it was this time last year and we are seeing positive signs in relation to job vacancy figures.”
“Since being elected in September 2013, the Coalition Government has overseen the creation of 421,400 jobs, representing an increase of 3.7 per cent.”
Compared with January 2015, today’s ABS data shows over the past year;
- Total employment has risen by 298,300 (or 2.6 per cent)
- Full-time employment has increased by 157,800 (or 2.0 per cent), to stand at 8,185,800.
- Part-time employment increased by 140,500 (or 3.9 per cent), to stand at a record high of 3,708,700.
- Female employment has risen by 163,200 (or 3.1 per cent)
- Female full-time employment has risen by 93,000 (or 3.3 per cent) to stand at 2,943,600
- Male employment increased by 135,200 (or 2.2 per cent), to a record high of 6,399,900.
- Total unemployment has declined by 22,300 (or 2.8 per cent), with the unemployment rate declining by 0.3 percentage points
- The female unemployment rate has decreased by 0.3 percentage points
- The participation rate has risen from 64.7 per cent to 65.2 per cent
Minister Cash said in the last 12 months the Australian economy has created 298,300 under the Coalition Government – this compares with the last 12 months of the former Gillard-Rudd Labor Government where jobs growth was less than one third this rate.
“In trend terms it is important to remember that the unemployment rate is still 5.8 per cent and both full-time employment and part-time employment are at a record high,” Minister Cash said.
“Clearly there is more work to be done but the trajectory of jobs growth in Australia is still very positive.”
“The Government has a comprehensive jobs plan and we will continue to focus on increasing workforce participation, investing in vital infrastructure, finalising and implementing historic free trade agreements and assisting the unemployed back into the workforce through the new jobactive employment services programme.”
“The Government’s strategy to see the unemployment rate reduce will yield results as we implement our policies in 2016 and beyond.”