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Peaconomics wrong again



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TREASURER

EMBARGO

STATEMENT BY THE TREASURER, THE HON P J KEATING, MP

PEACONOMICS WRONG AGAIN

The Leader of the Opposition is so desperate to denigrate the job growth achieved by the Government in the last 6 1/2 years that he is willing to massively distort the statistical facts.

In an interview with Ian McMinn on 3AW today Mr Peacock suggested that most of the 1.6 million jobs created under Labor were either part-time or in the public sector.

The facts are that 66 per cent of the jobs created under labor have been full-time, and more than 90 per cent have been in the private sector.

Yesterday's labour force release shows that as of November 1989 full-time employment totalled 6,225,600 (seasonally adjusted), and part-time employment was 1,617,200, a total of 7,842,800. The comparable figures for April 1983 (ABS catalogue 6203, published 31 March 1989) were 5,178,600

full-time and 1,074,800 part-time, a total of 6,253,400.

That works out at an increase of 1,047,000 full-time jobs since April 1983, and an increase of 542,400 part-time jobs.

The ABS series on private and public sector employment is Employed Wage and Salary Earners (Catalogue 6248), published quarterly. It shows that from July 1983 to June 1989 private sector employment increased by 1,003,700 and public sector employment by 88,000. Private Sector growth has therefore comprised 92 per cent of total employment growth over the period.

These are publicly available facts published by the Australian Statistician.

I know that Mr Peacock often has to stoop to great lengths to try and make a political point.

But today's performance is way over the top, even by his second rate standards.

CANBERRA 8 DECEMBER 1989

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PARTIAL TRANSCRIPT OF ANDREW PEACOCK, LEADER OF THE OPPOSITION, and IAN McMINN, 3AW

8 DECEMBER 1989

McMinn: Well, they say they have a very proud record on their jo ils - , a million and a half new jobs.

Peacock: Yeah, that's right. Some of them, so many of them part-time, temporary and public service. And just pause and ask yourself how much productive Australia's become as a consequence of that sort of line? They're not jobs out in the private sector to the extent they are in the public sector.