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1000 jobs each day THE latest Australian Bureau of Statistics labour force figures show more than a 1000 jobs a day were created in August.These figures exceeded market expectations, with seasonally adjusted employment increasing strongly in August, by 31,900. "With 10,513,300 Australians working, there are now more Australians in work than ever before," Minister Minister for Employment and Workplace Relations, Joe Hockey said. "Importantly, full-time employment increased by 29,100, to its highest level on record of 7,541,900, while part-time employment rose by 2700 to 2,971,400, also a record high. "Since the Government came to office in March 1996, nearly 2.2 million jobs have been created, almost 1.3 million of which have been full-time positions." While the seasonally adjusted unemployment rate remained steady over the month, at 4.3 per cent, this occurred in conjunction with an increase in the participation rate, rising to a record high of 65.1 per cent. The seasonally adjusted teenage full-time unemployment rate declined by 0.2 percentage points to 18.0 per cent in August and remains well below the peak of 34.5 per cent recorded under the previous Labor Government. 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 3.9 per cent. "These exceptional results are a clear demonstration of how the Government's prudent policy settings have helped steer Australia along the path of sustained economic prosperity," Minister Hockey said. "Indeed, with forward indicators of labour market activity pointing to further strong jobs growth in the period ahead, there has never been a better time for people to break the cycle of welfare dependency and secure sustainable employment." |
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