Good News on Jobs Growth

18 Oct 18

Member for Cowper Luke Hartsuyker has welcomed a drop in the unemployment rate to the lowest level in over six years at 5 per cent.

Mr Hartsuyker said the rate was now low enough to put upward pressure on wages.

The jobless rate is now at the level at which the Reserve Bank expects wages growth as employers compete for workers.

“The recovery from the Global Financial Crisis has been slower than many would like, but has been stronger in Australia than in most countries and is picking up pace,” Mr Hartsuyker said.

“We now have strong economic growth overall, at 3.4 per cent, and the new job figures reflect the fact there are now 1.15 million more people in work since the Coalition inherited an economy in crisis in 2013.

“That’s down to good management and the foundation for ongoing growth is strong, and getting stronger.”

Mr Hartsuyker said a slight disappointment was a small drop in the participation rate, but overall the news was good.

There was a net gain of 5,600 jobs in September to 12,636,300, with the gain coming in full time employment as casual or part-time work slipped back.

The number of unemployed people declined by over 37,000.

“This is a level of progress that proves the Coalition is managing the economy well,” Mr Hartsuyker said.

“More jobs means more revenue which is what enables the Government to provide the services people want, need, and deserve.”

HELP US BUILD A BETTER NORTH COAST

[contact-form-7 id="58" title="Submit comment"]

Email Newsletter

SIGN UP FOR THE LATEST FROM LUKE