Release type: Media Release

Date:

Labor Government delivers record high job numbers

Ministers:

The Hon Brendan O'Connor MP
Minister for Employment
Minister for Skills and Training

Labour force figures released today by the ABS show that seasonally adjusted employment continued to expand in June, increasing by 10,300 to a record high of 11,668,500.

Seasonally adjusted part-time employment increased by 14,800, to 3,524,100, also a record high, while full-time employment decreased by 4400 to 8,144,500.

Despite the additional jobs, the unemployment rate in Australia increased from a revised 5.6 per cent in May to 5.7 per cent in June.

The participation rate increased by 0.1 percentage points to stand at 65.3 per cent. The number of unemployed people looking for work increased in June, by 23,700 to stand at 709,300.

The Minister for Employment, Brendan O’Connor, welcomed the record employment numbers, highlighting that more than 966,000 jobs have been created since the Labor Government came to office in November 2007.

“Labor has created around 470 jobs per day since elected in 2007 – a remarkable achievement considering many advanced economies around the world continue to grapple with weak growth and stubbornly high unemployment,” Mr O’Connor said.

“Of course, we’re going through a transition in our economy.

“The resources boom is shifting from unprecedented growth in investment towards growth in production and exports, and more broadly the economy is shifting towards non-mining sources of growth, supported by record low interest rates.

“While conditions remain patchy in parts of the economy, Australia nonetheless has an impressive combination of solid growth, low unemployment, low interest rates, contained inflation and very low debt.

“Increasing employment opportunities has always been at the centre of the Government’s plans for the future, which is why the Government announced A Plan for Australian Jobs.

“This plan contains wide-ranging measures to improve the quality and number of employment opportunities for Australians now and into the future.

“A key plank of this plan is the Venture Australia package, which includes a new $350 million round of equity funding through the Innovation Investment Fund. 

“This will turn the bright ideas of our innovators into new products, services, firms and, ultimately, jobs, by attracting more private sector investment into the high-risk venture capital market, to support the growth of competitive start-up firms and help foster employment growth.

“The Plan also includes new initiatives to support Australian businesses winning more work on investment projects, and the establishment of 10 Industry Innovation Precincts, to promote innovation and growth in a range of industry sectors.

“Our greatest responsibility is to invest in our people by enhancing skills and education to help drive Australia’s productivity performance and ensure that all Australians can participate, prosper and contribute in our society.”