Press conference, Canberra
AMANDA RISHWORTH, MINISTER FOR EMPLOYMENT AND WORKPLACE RELATIONS: Well, today's labour force figures demonstrate that Australia's labour market remains resilient despite some softening. This is particularly the case when we compare Australia's job market to other advanced economies and by historical standards, with more than 1.3 million jobs being added to our economy since May 2022. The unemployment rate did increase marginally over the month of July, but this still remains low by historical standards. While employment decreased by 15,800 jobs, we've seen an increase over the year, with more than 190,000 more jobs in Australia today than was a year ago. Now, encouragingly, full-time employment rose to a record high of 10.2 million Australians in full-time work in July, and underemployment also fell in July, which means more people are getting the hours that they want.
Now, these figures today demonstrate the ongoing resilience of Australia's labour market despite the global uncertainty and ongoing conflict in the Middle East. There of course will continue to be challenges across the global economy. However, our government is taking all practical measures to shield Australians and the nation from the worst of these impacts. And indeed, yesterday's wages data that actually showed that in the June quarter that real wages grew is important, and also the data yesterday that showed that in the four years we have been in government, annual nominal wages have increased higher than 3 per cent during that period. If we of course look at employment growth since 2022, Australia has outpaced all major advanced economies. So this is good news. Finally, I'd say that the Albanese Government is absolutely committed to creating more jobs and to get wages moving so that we can support hardworking Australians.
JOURNALIST: Minister, so on the unemployment, are you concerned that it was higher than expected? And are you comfortable with the figures and the direction of the economy this seems to indicate?
AMANDA RISHWORTH: Firstly, I would say that these figures are broadly in line with the expectations of both the Treasury and the Reserve Bank, that our labour market would experience some softening. So they are at the higher end of market expectations but in line with market expectations. It has been expected that we would see some softening in the labour market, but I would point to comparing that with historical standards. We have an unemployment figure with a four in front of it, 4.5 per cent. That is historically a very low number. And importantly, as of last month, the jobs numbers, there were an extra 80,000 jobs. So these monthly job numbers do bounce around a little, but this is in line with what expectations are more broadly across the market. Of course, there are global challenges. We do see ongoing conflict in the Middle East, but our government is absolutely committed to ensuring that people have jobs and good wages.
JOURNALIST: And just on another topic, some labour and union elders have come out to say that union leaders should appear before the Antisemitism Royal Commission for their role, at least some of them, in anti-Israel protests. Do you agree? And do you think that unions have done enough about anti-Semitism?
AMANDA RISHWORTH: Firstly, I would say that who appears before the Royal Commission is a matter for the Royal Commission. The Royal Commission is undertaking very important work, and I'm not going to make commentary on who should or shouldn't appear. This is an important piece of public policy, and I will leave the witness list and who appears and who doesn't to that Royal Commission.
JOURNALIST: Just on the second part of that question, do you think the unions have done enough on anti-Semitism?
AMANDA RISHWORTH: I think every Australian- it is incumbent on every Australian to make sure that we are very cognisant of anti-Semitism in this country and that we all have a role to play in addressing it. So I think it is incumbent on every Australian to recognise it, to call it out, and make sure, quite frankly, we just be good humans to one another.