12 February, 2015 | Media Release
Today’s 13-year-high unemployment rate of 6.4 per cent shows the only jobs plan Tony Abbott has is to save his own.
ACTU President Ged Kearney said the impact of Tony Abbott and Joe Hockey’s policies is clear in today’s labour force figures.
“They are slowing the economy and increasing unemployment,” said Ms Kearney.
“This is the highest unemployment rate since June 2002 yet the Abbott Government has absolutely no plan to create jobs.
“All we are hearing from Tony Abbott and Joe Hockey is cuts, cuts, cuts.
“This is a government that is blinded by ideology – they are obsessed with passing their unfair budget cuts despite all the economic evidence that they are taking Australia completely in the wrong direction.”
The figures show Australia’s unemployment rate is now higher that the United States (5.7%), the United Kingdom (5.8%) and New Zealand (5.7%).
“Australia came through the global financial crisis in better shape than most comparable economies – yet the Abbott Government’s budget cuts and economic policies has created higher unemployment here than in many of those countries.”
Ms Kearney said the Abbott Government has no economic credibility left.
“Not only are these figures bad but they are forecast to get even worse,” Ms Kearney said.
“The Reserve Bank of Australia’s latest statement said it expects unemployment to peak higher and later than it previously forecast, while the Government’s mid-year update predicted 6.5 per cent unemployment by June this year - and we are already at 6.4 per cent in January.”
Ms Kearney said this is the worst possible time for further budget cuts.
“The Abbott Government must act to stimulate the economy and boost employment instead, and should do this by bringing forward infrastructure investment.
“The longer unemployment remains this high, the worse the social and economic outlook will be for Australia.
“There is a real risk we will see long-term structural unemployment developing, which will have significant social and economic costs.
“Sadly for Australian workers, the Abbott Government’s agenda is based on cuts to wages and conditions and no support for Australian jobs.”
Today’s 13-year-high unemployment rate of 6.4 per cent shows the only jobs plan Tony Abbott has is to save his own.
ACTU President Ged Kearney said the impact of Tony Abbott and Joe Hockey’s policies is clear in today’s labour force figures.
“They are slowing the economy and increasing unemployment,” said Ms Kearney.
“This is the highest unemployment rate since June 2002 yet the Abbott Government has absolutely no plan to create jobs.
“All we are hearing from Tony Abbott and Joe Hockey is cuts, cuts, cuts.
“This is a government that is blinded by ideology – they are obsessed with passing their unfair budget cuts despite all the economic evidence that they are taking Australia completely in the wrong direction.”
The figures show Australia’s unemployment rate is now higher that the United States (5.7%), the United Kingdom (5.8%) and New Zealand (5.7%).
“Australia came through the global financial crisis in better shape than most comparable economies – yet the Abbott Government’s budget cuts and economic policies has created higher unemployment here than in many of those countries.”
Ms Kearney said the Abbott Government has no economic credibility left.
“Not only are these figures bad but they are forecast to get even worse,” Ms Kearney said.
“The Reserve Bank of Australia’s latest statement said it expects unemployment to peak higher and later than it previously forecast, while the Government’s mid-year update predicted 6.5 per cent unemployment by June this year - and we are already at 6.4 per cent in January.”
Ms Kearney said this is the worst possible time for further budget cuts.
“The Abbott Government must act to stimulate the economy and boost employment instead, and should do this by bringing forward infrastructure investment.
“The longer unemployment remains this high, the worse the social and economic outlook will be for Australia.
“There is a real risk we will see long-term structural unemployment developing, which will have significant social and economic costs.
“Sadly for Australian workers, the Abbott Government’s agenda is based on cuts to wages and conditions and no support for Australian jobs.”
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