The economy is a dominant issue in the Election. From now until polling day, Independent Australia will outline some key facts on the economy that put the kybosh on many of the myths, lies and distortions being peddled in the election campaign.
This is the tenth in a series of short articles by leading economist Stephen Koukoulas, which will be published daily up until the Federal Election on Saturday 3 May 2025.
FACT NINE: LABOR IS A JOB-CREATING MACHINE
In just three years, the pace of job creation under the Albanese Labor Government has been extraordinary.
In the 34 months from May 2022 to March 2025 (the latest available data), employment has risen by 1.061 million people or an average of 31,200 people a month.
This is the largest increase in employment in any single term of government in Australia. This has been such that the unemployment rate has remained around 4 per cent, which is between 0.5 and 0.7 percentage points above a 50-year low.
By way of comparison, in the nine years of the Abbott, Turnbull, Morrison Coalition governments from 2013 to 2022, employment rose by an average of just 19,100 people a month.
If the rate of job creation under the Albanese Government was as soggy and weak as under the previous Coalition Government, there would be 411,000 fewer Australians in work today. Such is the impressive rate of job creation under Labor versus the Coalition.
These are the facts and it's your job to stay informed.
Other facts in this series:
- #1: In fact, Labor has inflation back under control
- #2: Energy prices are plummeting
- #3: Wage growth on the rise under Labor
- #4: Labor brought down government debt by billions
- #5: Labor building on a better future
- #6: Coalition taxing at a record high, not Labor
- #7: Under Labor, Australia is more productive
- #8: Australia among best in the world at beating inflation
- #9: Australia keeping tax down
Stephen Koukoulas is one of Australia’s most respected economists, a past chief economist of Citibank and senior economic advisor to an Australian Prime Minister. You can follow Stephen on Twitter/X @TheKouk.
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Australia License
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- AUSVOTES ECONOMIC FACTS #7: Under Labor, Australia is more productive
- AUSVOTES ECONOMIC FACTS #6: Coalition taxing at a record high, not Labor
- AUSVOTES ECONOMIC FACTS #5: Labor building on a better future
