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Unemployment at 33-year low NEW Australian Bureau of Statistics (ABS) data shows Australia's unemployment rate fell to 4.2 per cent in September 2007, its lowest level in almost 33 years."Importantly, there are now more Australians in work than ever before, with seasonally adjusted employment increasing by 13 000 over the month to stand at a record high of 10 527 500," Minister for Employment and Workplace Relations, Joe Hockey said. "Overall, since the current government came to office, almost 2.2 million jobs have been created, over 1.2 million of which have been full-time positions. "Since March 2006, when the government's workplace reforms were introduced, 430 700 jobs have now been created, which provides further evidence that these reforms must be bedded down if we are to achieve further significant inroads into the unemployment rate. "The seasonally adjusted teenage full-time unemployment rate also fell over the month, to 17 per cent and remains well below the peak of 34.5 per cent recorded under Labor. "The teenage full-time unemployment to population ratio declined to just 3.6 per cent in September, its equal lowest level since the inception of the series in February 1978. Put another way, only around one in 28 teenagers is now unemployed and looking for full-time work. "While labour force figures can vary from month to month, the outstanding labour market results achieved over the last eleven and a half years are a testament to the Government's strong economic credentials and its prudent policy stance. "Labor wants to turn the clock back to a system where union bosses control every workplace whether the employees want it or not. The union bosses and Labor are driven by self interest. Their highly misleading and irresponsible scare campaign proves they are not interested in helping workers. No wonder union membership has dropped to only one in five workers. "We have a workplace relations system that will continue to deliver more jobs and higher wages for working families into the future." |
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