Jobless rate proof of economic plan benefits

Treasurer Curtis Pitt says an upturn in the Queensland economy and the Palaszczuk Government’s economic plan are setting the right climate for improving labour market conditions. 

Mr Pitt said ABS figures released today showed the state’s trend unemployment rate for September fell to 6.1 per cent from a revised 6.2 per cent in August.

He said the seasonally adjusted rate had also fallen to 6.0 per cent, compared with 6.2 per cent in August.

Mr Pitt said the figures also showed more than 40,000 jobs had been created since the election of the Palaszczuk Government. 

“The latest figures are more good news for the Queensland economy and further hard data showing our economic plan is working,” he said. 

“But we know there is more work to do because not all sectors and regions are transitioning to a post-mining boom economy as well as others. 

“We will continue delivering programs such as our $100 million Back to Work scheme targeted at our regions and giving employers $10,000 or $15,000 incentives when they take on unemployed people. 

“We will continue deliver a $40 billion, four-year job-creating infrastructure program with $10.7 billion earmarked for 2016-17 and supporting 31,000 jobs with almost half of that spending targeted to regional Queensland. 

“We will continue to implement our economic plan and do our best to keep job creation in positive territory compared with the LNP’s record of losing more than 300 full-time jobs on average every month they were in office and Tim Nicholls was Treasurer. 

“While Labor has an economic plan that’s working, the LNP under Tim Nicholls has only asset sales, mass sackings, and cuts to frontline services as their only answer. 

“Our economic plan is forecast to deliver nation-leading growth and is rebuilding our economy after the damage done by Tim Nicholls and the LNP. 

“In two State Budgets so far we have maintained a disciplined approach to spending, invested in innovation and job-creating infrastructure, while paying down debt without the need for a fire sale of income-generating assets. 

“Labor took office at a time Tim Nicholls had left trend unemployment at 6.6 per cent after taking it to a high of 6.7 percent — far from the 4 per cent rate he promised.

“Tim Nicholls was too lazy to even try and simply gave up on his 4 per cent goal, dismissing it as ‘a stretch target’.” 

Mr Pitt said proof the benefits of the government’s economic plan had been delivered by a recent series of indicators including: 

• Affirmation of the state’s credit rating by ratings agencies Moody’s and S&P Global. 
• Forecast by Deloitte Access Economics of nation-leading growth across the coming decade.
• Positive growth in Queensland’s domestic economy revealed by June quarter 2016 figures for State Final Demand, the best since December 2013. 

“There is no doubt the LNP will once again search for any cloud in the silver lining as it always does with any data release or survey,” he said. 

“But instead of whingeing, it is time Tim Nicholls and Scott Emerson released their full and detailed economic plan. 

“If they can’t we can only assume they are still taking the lazy way out by relying on mass sackings, frontline services cuts, and asset sales. 

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