Note: Where available, the PDF/Word icon below is provided to view the complete and fully formatted document
Long term unemployment at 18 year low.



Download PDFDownload PDF

THE HON KEVIN ANDREWS MP

MINISTER FOR EMPLOYMENT AND WORKPLACE RELATIONS MINISTER ASSISTING THE PRIME MINISTER FOR THE PUBLIC SERVICE

Media Release

04505

Long Term Unemployment At 18 Year Low

According to new data released today by the Australian Bureau of Statistics, long-term unemployment remained at 99,900 in December 2004, its equal lowest level since the inception of the series in April 1986.

Seasonally adjusted long-term unemployment has now fallen by 229,900 (or 69.7 per cent) since the peak of 329,800 recorded in May 1993 when Labor was in office.

In trend terms, long-term unemployment continued to fall, by 4,100 in December, to its lowest level in over 18 years.

Significantly, seasonally adjusted LTU now comprises just 1.0 per cent of the entire labour force, an equal record low.

Today’s long-term unemployment statistics follow last week’s labour force figures which revealed that Australia’s unemployment rate fell to 5.1 per cent, its lowest level since November 1976.

Today’s encouraging results confirm that the Howard Government continues to make inroads into the legacy of high long-term unemployment left by the previous Labor Government.

The Minister for Employment and Workplace Relations, Kevin Andrews, welcomed the latest figures and stressed the importance of passing the Government’s workplace relations and workforce participation reforms, which have the potential to create more jobs for all Australians, including the long-term unemployed.

While labour force figures can vary from month to month, forward indicators of labour market activity point to further solid job gains in the coming months, suggesting that long-term unemployment may improve even further in the period ahead.

For further information contact:

Russ Street 0417 044712

20/01/2005

http://www.dewrsb.gov.au/ministersAndMediaCentre/mediacentre/printable.asp?show=3200 (2 of 2) [25/01/2005 10:22:22 AM]