Minister for Jobs and Innovation Michaelia Cash today welcomed Australian Bureau of Statistics Labour force data that shows that the strength and resilience of the Australian Labour market.
Minister Cash said the data showed there is more good news for Australian workers and the Australian economy with over 300,000 new jobs generated over the last 12 months, including almost 200,000 full time jobs.
The seasonally adjusted full-time employment increased by 19,300 in July 2018, to stand at a record high, of 8,587,500.
Seasonally adjusted unemployment rate fell to 5.3 per cent in July its lowest rate since November 2012 is now 0.3 percentage points lower than in July 2017.
The youth unemployment rate fell by 0.2 percentage points over the month, to 11.1 per cent in July 2018, and is now at its lowest rate since April 2012.
Minister Cash said while she recognised that there is more to do in ensuring young Australians have jobs, this month’s figures showed that over the last year 57,000 more young people are in employment.
“The Government’s strong record on jobs is because we are putting the right economic framework in place, including lower taxes for individual Australians and business.” the Minister said.
“In July of this year the economy created 19,300 full-time jobs. The Turnbull Government will continue to strive to increase employment in Australia.”
“Bill Shorten’s promised $200 billion tax increase will see unemployment increase, the loss of jobs and more people reliant on welfare.”