LNP’s CUTS AND SACKINGS KEEP JOBLESS RATE AT GFC LEVELS

Media Release

Shadow Treasurer Curtis Pitt says ABS figures released today showed the Newman Government had still not done anything to have the state’s jobless rate heading towards 4% as it promised.
“The 6.4% trend unemployment rate for Queensland in September and the 6.3% seasonally adjusted figure prove yet again the Premier and Treasure are responsible for losing jobs even though they claimed before the 2012 election they had a plan to boost jobs and have our state heading towards 4% unemployment over six years,” Mr Pitt said.
“Like their plan to cut power prices and boost the economy without the need for asset sales, we have never seen any evidence of their plan for growing jobs."
“The only plan we have seen since March 2012 is to sack close to 20,000 workers and to cut frontline services — all of which has cause state and regional economies and job prospects to suffer."
“The change in the ABS’s methodology means we will need to study the latest figures closely. The downward revisions from previous months reflect a lower participation rate or less people looking for work.”
“On either measure of trend or seasonally adjusted jobs were lost in September and there are fewer full-time jobs in September than when the Newman Government was elected."
“There are an additional 26,600 people in the unemployment queue trend since the election and another 34,800 have given up looking for work based on the lower participation rate."
“This represents more than 61,000 Queenslanders who are out of work under Campbell Newman."
“And the fact remains Queensland’s jobless rate is stuck above 6% and above GFC levels despite the LNP inheriting a rate of 5.5% from Labor at the last election.”
Mr Pitt said the latest ABS figures showed:
- Queensland’s trend unemployment rate at 6.4% in September, up from 6.3% in August, and a seasonally adjusted rate of 6.3% in September, down from 6.4% in August
- a net loss of 2,900 jobs in September on a trend basis — the loss of 4,600 full-time jobs being partly offset by a rise in part-time jobs of 1,700
- a net loss of 17,200 jobs seasonally adjusted in September including 1,700 full-time jobs
- 24,000 fewer full-time jobs seasonally adjusted than at the 2012 election and 8,400 fewer full-time jobs on a trend basis
- the total number of unemployed up by 22,100 seasonally adjusted and up by 26,600 since the election on a trend basis
- a participation rate of 65.5% seasonally adjusted in September (down from 66.9% at the 2012 election) and a trend participation rate of 65.9% (down from 66.8% at the election) showing more Queenslanders had given up looking for work and were no longer counted in the unemployment statistics
- if those who had given up looking for jobs were still counted, the trend unemployment rate would be significantly higher at 7.6%.

Please see advice from ABS regarding publication of statistics here: http://tinyurl.com/091014ABS