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Labor's unemployment rate running at 488 people per day



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NEWS RELEASE JOHN HOWARD, M.P.

M EM BER FOR BENNELONG SHADOW MINISTER FOR INDUSTRIAL

RELATIONS, EM PLOYM ENT & TRAINING

IRET 028/92

LABOR'S UNEMPLOYMENT RATE RUNNING AT 488 PEOPLE A DAY

The latest labour force figures emphasise the fact that unemployment remains locked between 10 and 11 per cent.

When the Government assumed office in March 1990 there were 512,600 jobless. Now there are 886,700 jobless.

That is an extra 488 jobless a day.

That is an execrable record and one that is unlikely to improve as businesses shed labour to cope with the imposition of the superannuation levy.

Unemployment now has been running in excess of 10 per cent since September last year, and the trend rate of unemployment has been locked at a peak of 10.5 per cent for four months.

The slight decline in the seasonally adjusted unemployment rate that has occurred since December owes as much to the continuing decline in the participation rate as employment growth.

The continuing weakness in full-time employment for both males and females is particularly disturbing.

So too is the continued weakness in full-time employment for adolescent males and females, who are still recording a joint unemployment rate of more than 30 per cent.

CANBERRA 7 May 1992

COMMONWEALTH PARLIAMENTARY LIBRARY MICAH