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Labor’s strong record on jobs :ACTU
Date: 14 July 2010
Today's economic statement from the Federal Government confirms that Australia's recovery is on track with 475,000 new jobs to be created over the next two years, say unions.
The ACTU said that the Labor Government's economic record is in stark contrast to the Coalition's plan to cut jobs and services and to bring back WorkChoices.
ACTU President Ged Kearney said the updated forecasts showed the dividends for working Australians from the Labor Government's successful management of the economy throughout the Global Financial Crisis.
"Despite global economic uncertainty, employment in Australia has strongly rebounded from last year's downturn and the jobless rate has defied predictions," Ms Kearney said.
"In took years for employment to recover after the recessions of the 1980s and 1990s, but we have already seen 353,000 new jobs in the past year and no signs of that slowing down.
"Australia's recovery from the GFC is the envy of the advanced world and the Government's actions have directly led to this rapid turnaround in our fortunes.
"Economic growth of 3% this financial year and 4% in 2011-12 and unemployment to fall below 5% next year give us every reason to be optimistic about the future. As employment grows, we expect to see higher workforce participation and a reduction in underemployment.
"We shouldn't forget that these strong domestic projections for economic growth and employment come at the same time as signs have emerged in the United States and Europe that the pallid recovery globally could continue for some time yet.
"The economic stimulus program prevented Australia from sliding into recession and this year's Budget has created a platform for future growth.
"The Budget provided for investment in national infrastructure, skills and training, productivity and participation, better healthcare, and long-term improvements to national savings."
Ms Kearney said unions had welcomed resolution of the Minerals Resource Rent Tax, which will fund an increase in superannuation to 12% along with other reforms to boost national retirement savings, and investment in much-needed infrastructure for regional communities.
"Today's economic statement confirms Australia's public debt is lower than almost all developed economies, and the Budget will be back in surplus within three years.
"The Liberal alternative would hurt working families. Tony Abbott opposes measures to stimulate the economy, promises to cut jobs and public services and refuses to support an increase in superannuation. His main economic policy is to bring back WorkChoices by another name."
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