Labor force figures released by the ABS this week show more than 403,000 jobs were created in Australia in 2017, with Minister for Jobs and Innovation Michaelia Cash proclaiming it the “best year for jobs growth ever”.
The ABS figures also show that the number of jobs increased for the 15th straight month in December, meaning Australia has enjoyed the longest consecutive run of monthly job increases ever, tied with a run from 1978. Of the 403,100 jobs created in 2017, three quarters (303,400) were full-time jobs with 15,100 full-time jobs generated in December. Against this, the unemployment rate for December was 5.5 per cent, an increase from 5.4 per cent in November.
“Australians are now keener than ever to work and are taking up the opportunities created by the Turnbull Government – the participation rate is at the highest level in seven years at 65.7 per cent,” said Minister Cash.
“The Turnbull Government has put in place the right policy settings and this is now paying off with our economy creating, on average, around 1,100 new jobs a day.
“Jobs growth over the last 12 months is almost five times stronger than Labor’s last year in government. Total employment stands at a record high of 12,440,800.
“Since the Coalition was elected in September 2013, 956,500 jobs have been created. Total employment, total full-time employment and total part-time employment are at record highs. The current rate of jobs growth remains high at 3.3 per cent over the year and is more than double the decade average rate of 1.6 per cent.”
ABS Labour force figures (December 2017)