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Employment growth is positive

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Employment growth is positive

Senator the Hon Eric Abetz

Leader of the Government in the Senate

Minister for Employment

Minister Assisting the Prime Minister for the Public Service

Senator for Tasmania

Labour Force figures released by the Australian Bureau of Statistics today show a positive outcome with a rise in employment and the unemployment rate remaining below Budget forecasts.

The unemployment rate has remained relatively steady at 6.0 per cent and the youth unemployment rate has dropped to 13.3 per cent.

Employment increased by 7,300 persons in June, with 24,500 full time jobs created, partially offset by a fall of 17,200 of part time jobs.

The participation rate bumped up at 64.8 per cent in June, up from 64.5 per cent in October 2014 - this is pleasing as it means more people are either in jobs, or actively trying to participate in the labour market.

Minister for Employment Senator Eric Abetz said today’s figures are positive and show a strengthening labour market.

“This growth has been supported by the Government’s Growing Jobs and Small Business Package, Free Trade Agreements taking effect and infrastructure investment,” Senator Abetz said.

“With 120,700 jobs created so far this year and more than a quarter of a million since the Government came to office, it is clear that the Government’s economic plan to deliver stronger jobs growth is working.”

In 2014, more than 200,000 new jobs were created (200,800). Jobs growth averaged around 16,700 per month in 2014 (or almost 4,000 new jobs a week), well more than quadruple the average monthly jobs growth in 2013 of just 3,600 per month.

Forward indicators for the jobs market are also strong, with another increase in ANZ’s monthly job ads series recorded earlier this week.

“The Government remains focused on helping more Australians into work with jobactive commencing from 1 July as well as new wage subsidies and the National Work Experience Programme.”

Thursday 9 July 2015