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November labor force figures

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Joe Hockey, MP 

Shadow Treasurer 

Member for North Sydney



The Coalition welcomes the continued strong growth in employment in November.

Australia’s unemployment rate fell by 0.2 per cent to 5.2 per cent in November, as announced today by the Australian Bureau of Statistics.

The latest data shows the economy remains close to full employment.

Other data released in recent weeks, including the national accounts and retail sales, suggest higher interest rates are biting hard on household spending and home building and this is prior to the full impact of the November interest rate increases.

This reinforces the need for the government to pursue responsible economic management and wind back its heavy debt fuelled spending to ease the upward pressure on interest rates.

The government’s continued reluctance to do so is now the single biggest risk to economic activity and jobs.