Work force data released today which showed the unemployment rate dropped to 3.6% in May, will not mask the pain that millions of Australians are feeling as the cost of living crisis continues to bite.
Many Australians are now at breaking point.
Shadow Treasurer Angus Taylor said the strength of the labour market is built on the back of an economy shuddering to a halt.
“Australia came out of the pandemic in a strong economic position but under Labor the foundation of this strength is looking weaker and weaker,” Mr Taylor said.
“Buried in today’s data is the pain Australians are feeling due to Labor’s failure to fight inflation.
“We all want to see strong jobs growth but the strength we’re seeing in the labour market comes at the same time we are seeing productivity falling off a cliff. Australians are working harder for less because of this government.
"Labor's plan is failing to fight inflation, failing on productivity and failing on economic growth. Labor's only plan is to make Australians poorer.
“Today’s results follow last week’s Labour Accounts data which shows the number of Australians having to take on multiple jobs has increased by more than 10 per cent over the past year.
“Sky high energy bills, surging mortgage repayments, increasing rents and soaring grocery bills – middle Australia is under the pump and making huge sacrifices to pay the bills.
“Inflation comes from Canberra and it’s up to Anthony Albanese and his government to start taking responsibility to put downward pressure on prices instead of blaming everyone else.”
Shadow Minister for Employment Senator Michaelia Cash said: “Inflation is still running rampant, interest rates continue to rise and real wages are going backwards under the Albanese Government.”
“Unfortunately, the Albanese Government is making decisions that will only cost Australians jobs in the future,’’ Senator Cash said.
“Radical industrial relations laws the Albanese Government rammed through Parliament late last year which gave the country compulsory multi-employer bargaining only came into force just over a week ago. So the devastating impacts that businesses across the country are expecting from those laws will be down the track,’’ she said.
“Sadly, the legislation that brought in multi-employer bargaining was only the start of this Government’s ideological industrial relations changes to deliver for their union paymasters,’’ Senator Cash said.
“The Albanese Government's so-called 'same job, same pay’ legislation is presently being formulated and the business community has started a strong campaign opposing the pending laws,’’ she said.
“The job creators of this nation know the next tranche of legislation will not be good for our economy,’’ Senator Cash said.