Jobless rate shows we're delivering: PM

Australia's unemployment rate reached a six-year low in September, with the coalition crediting its economic agenda for the achievement.

Scott Morrison

Scott Morrison is keen to talk up job figures as something that matters outside the Canberra bubble. (AAP)

Australia's unemployment rate has hit a six-year low because the federal government is focused on what matters and not the "Canberra bubble", Prime Minister Scott Morrison has declared.

"This is what we want to talk about because this matters," Mr Morrison told parliament of the jobs data on Thursday.

"This makes a difference outside the Canberra bubble."

He said the coalition's support of small and medium-sized businesses has contributed to the milestone.

"We are able to deliver because we're getting things done, because we are focusing on making our economy strong."

The latest figures by the Australian Bureau of Statistics put the jobless rate at five per cent in September, on a seasonally adjusted basis, down 0.3 percentage points on the previous month.

That was better than what economists had expected, with the consensus being that the rate would remain unchanged at 5.3 per cent.

The last time the unemployment rate was this low was April 2012 and the last time it was lower was June 2011's 4.9 per cent.

But the latest data hasn't been all good news, with fewer people in part-time work pushing down the participation rate.

The overall number of people with a job increased by 5600 on seasonally adjusted estimates but the participation rate dipped 0.3 per cent from August to 65.4 per cent.

Treasurer Josh Frydenberg said the numbers were a cause to celebrate nonetheless, with the participation rate "strong".

"The participation rate is a near record high. More women are in the workforce, more seniors are in the workforce," he told reporters.

Labor welcomed Thursday's data but remains concerned about stubbornly high underemployment and stagnant wages growth.

Mr Frydenberg said he would like to see wages grow faster but he said the Reserve Bank expected real wages to increase over time.


Share
Published 18 October 2018 4:44pm
Source: AAP


Share this with family and friends


Get SBS News daily and direct to your Inbox

Sign up now for the latest news from Australia and around the world direct to your inbox.

By subscribing, you agree to SBS’s terms of service and privacy policy including receiving email updates from SBS.

Download our apps
SBS News
SBS Audio
SBS On Demand

Listen to our podcasts
An overview of the day's top stories from SBS News
Interviews and feature reports from SBS News
Your daily ten minute finance and business news wrap with SBS Finance Editor Ricardo Gonçalves.
A daily five minute news wrap for English learners and people with disability
Get the latest with our News podcasts on your favourite podcast apps.

Watch on SBS
SBS World News

SBS World News

Take a global view with Australia's most comprehensive world news service
Watch the latest news videos from Australia and across the world