The Australian Bureau of Statistics (ABS) reporting of 25,400 new jobs in October – an increase of 7,800 above the number of new jobs created in September – reflects a strengthening economy, the Australian Chamber of Commerce and Industry CEO, James Pearson, said today.
Full-time employment increased 42,300 to 8,703,700 and part-time employment decreased 9,500 to 3,967,900.
“These figures, combined with the new 308,000 jobs created over the past year, are a solid outcome”, Mr Pearson said.
Mr Pearson pointed out that underemployment although steady, was still relatively high at 8.3%, and unemployment remained steady at 5%.
“These figures need to come down further to support material and sustained gains in wages,” Mr Pearson said.
“That said, we are seeing good signs of an uptick with yesterday’s data showing wage growth at its best in about 3 years.
“The best way we can reduce underemployment and unemployment is through policy settings that will encourage businesses – large and small – to invest, to grow, and to create jobs and offer more hours of work.”