Labour force figures released today by the ABS show that more Australians are now in work than ever before.
This month’s labour force figures exceeded all market expectations, with seasonally adjusted employment increasing strongly in June, by 52 000, to a record high of 10 194 200.
Importantly, full-time employment increased by 24 400, to its highest level on record of 7 277 900, while part-time employment rose by 27 600 to 2 916 300, also a record high.
Since the Howard Government came to office in March 1996, over 1.8 million jobs have been created, more than 1 million of which have been full-time positions.
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The seasonally adjusted unemployment rate was steady at 4.9 per cent in June, its equal lowest level since August 1976, and remains well below the peak of 10.9 per cent recorded in December 1992 when Labor was in office.
The seasonally adjusted participation rate increased to 64.8 per cent in June, its equal highest level on record, as strong labour market conditions encouraged even more people to enter the labour market.
The teenage full-time unemployment to population ratio (which refers to the proportion of the total teenage population unemployed and looking for full-time work) now stands at just 4.5 per cent.
The WorkChoices reforms will continue to deliver the wage growth and employment opportunities for Australian workers that have been a hallmark of the Howard Government’s strong economic management.
At a time when unemployment is at 30 year lows and the number of new jobs created since 1996 has reached more than 1.8 million, there has never been a better time to provide the opportunity for people to break the shackles of welfare dependency and get a job.
The new employment reforms delivered by the Howard Government’s Welfare to Work legislation provide the opportunity for more Australians to get a job and participate in Australia’s prosperity.
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