Workforce data released today can’t mask the pain of Australians battling a cost-of-living crisis while their real wages go backwards.
The October Labour Force figures show the unemployment rate increased 0.2 per cent to 3.7 per cent. Today’s data comes off the back of the Wage Price Index released yesterday that confirms Australians real wages are going backwards.
Shadow Treasurer Angus Taylor said: “We know that the resilience of the labour market started under the Coalition Government but the Albanese Government has done nothing to tame inflation which is really hurting Australians.”
“Australians have seen the biggest fall in living standards amongst OECD countries, while The Economist reports Australia is the “worst performer” when it comes to inflation entrenchment,” he said.
“For many Australians, their job is their last line of defence against rising prices. What is clear in this data is that Australians are working hard to keep their heads above water because this government has been making the wrong decisions.”
Shadow Minister for Employment and Workplace Relations Senator Michaelia Cash said: “Australians are still struggling under the Albanese Labor Government but the Prime Minister thinks his time is better spent overseas than here dealing with the cost of living crisis.”
“This Government is doing nothing to fix the cost of living crisis,’’ Senator Cash said.
“Their radical industrial relations laws will only make the cost of doing business even more expensive. We know that means businesses will have to increase their prices to cover the increased costs.”
“The Labor Government’s industrial relations agenda does not contain any plans to boost productivity. It is all about rewarding their union mates.”