Economy

May 18, 2018

A million jobs created despite so-called ‘punitive’ company tax

The government is justifiably proud of its employment achievements -- but it's been done without a company tax cut, and it hasn't helped wages.

Glenn Dyer and Bernard Keane

Crikey business and media commentator / Politics editor

Congratulations to the Turnbull government for fulfilling its (well, Tony Abbott's) promise of creating 1 million jobs since the September 2013 election. From September 2013 to April this year, 1,013,631 jobs have been created. The government has been quick to celebrate its achievement, and rightly so.

Alas, the jobless-less rate (in seasonally adjusted terms) was 5.6% in April ... which just so happens to have been the rate in September 2013. That reflects what is actually the government's real achievement -- a big rise in the participation rate from 64.8% to 65.6%. That includes a 1.8-point jump in female participation. That's an achievement to be genuinely proud about. It means greater economic empowerment for women. It may well be Turnbull's lasting economic legacy.

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21 comments

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21 thoughts on “A million jobs created despite so-called ‘punitive’ company tax

  1. Richard Leggatt

    And with migration running at close to 200,000 a year, we’d be in deep shit if we weren’t growing at this rate! The real question is what did THIS Government do to stimulate that jobs growth? The answer is….Nothing!

    1. TraceyR

      TurnBull said “there are one million more *Australians* in work in the last 5 years”

      This is BS: Most of the people who got the jobs are not Australians.

      5 years x 190,000 “skilled” migrants a year means 950,000 of these 1,000,000 jobs went to migrants.

      Even if we assume 20% unemployment among migrants, it means 3/4 of the jobs went to migrants, not Australians.

      1. Marcus Hicks

        That’s an hilarious boast to make regardless. According to Trading Economics, 1 million jobs were added between September 2008-September 2013, during which we also had a significant global financial crisis. Yet I don’t recall anyone praising Labor at the time.

        1. Wayne Cusick

          I recall an article from around the time that Abbott made the promise, probably in here, that they would have to do little or nothing for the number of jobs to grow by 1,000,000 in 5 years. And so it has turned out.

          1. Marcus Hicks

            Though they have done literally *nothing* to create 1,000,000 jobs, they have actively pursued policies that have prevented jobs growth from being higher. Ending all subsidies for the automotive industry, undermining the domestic Renewable Energy Industry, pursuing defence contracts that intentionally excluded local manufacturers, & pursuing Free Trade Agreements that allowed for a significant shift in jobs offshore and/or the importation of foreign workers via the 457 Visa system.

    2. Junter

      That’s not quite fair. Closing down the car industry was a definite policy

      1. Marcus Hicks

        Yeah, & those workers still haven’t hit the unemployment queues yet.

  2. Richard Leggatt

    And with migration running at close to 200,000 a year, we’d be in deep shit if we weren’t growing at this rate! The real question is what did THIS Government do to stimulate that jobs growth? The answer is….Nothing!

  3. Marcus Hicks

    The reality is that Labor achieved much better Job Statistics, even against the backdrop of the GFC
    https://tradingeconomics.com/australia/unemployment-rate
    https://tradingeconomics.com/australia/labor-force-participation-rate
    https://tradingeconomics.com/australia/
    https://tradingeconomics.com/australia/wage-growth

    yet that didn’t stop the Coalition & their MSM lackeys from declaring the economy “dead on arrival” during Labor’s tenure. So why the heck should the Coalition receive any accolades for worse trend figures?

  4. George

    One of the ‘facts’ that is conveniently ignored in this debate is that the definition of a ‘job’ is so easy to meet that creating ‘jobs’ doesn’t mean much in the context of what it means to be employed in a job where you work a sufficient number of hours and get paid enough to live decently. But then given that the politicians who trumpet this stuff and the bureaucrats who back them up earn three or four times what ‘ordinary people’ earn there is no surprise in that. Tie the salaries of politicians and bureaucrats to a fixed multiple of median family incomes and see how the management of ’employment’ by the government, especially this government, changes.

  5. Arky

    “It may well be Turnbull’s lasting economic legacy.”

    To be Turnbull’s economic legacy wouldn’t he need to be able to point to SOMETHING he did to create it, to say “this is what I did to raise job creation above what was naturally happening anyway:?

    Especially when you go on to point out that the main driver of jobs growth is probably the NDIS and education and healthcare generally, where Turnbull inherited Labor initiatives, and that said growth has stalled under Turnbull. So isn’t the jobs growth really Julia Gillard’s legacy, and the current stall is Abbott and Turnbull’s?

  6. Michael

    Given women are paid less than men: perhaps that explains the outcome of higher female employment participation rate and low average wages growth…?

  7. gjb

    A million new jobs, the unemployment rate hasn’t budged and still below par wages growth?????
    Its beyond time that unsustainable population growth was reined in.
    Its unbelievable that both business council of Australia & ACTU agree its good to trash our environment, society and workers security to grab a few more migrant Labor voters; or sell whatever garbage keeps them in business.

  8. bushby jane

    And aren’t there actually more people UNemployed than there were, which doesn’t seem to be mentioned really.

    1. Richard Leggatt

      Yep, Good old Mal! He’s maintained the status quo in employment! What a talent! What else did he manage? oh yes! He stuffed the deficit, stuffed the NBN, stuffed the ABC, stuffed Gonski, stuffed the NDIS, and said stuff the environment! Well Mal, STUFF YOU!

  9. AR

    These ‘job’ thingys – what is it that 1M more people are doing to add to the Common Weal?
    Or are they mainly taking in each others laundry and delivering pizzas?

  10. CML

    Maybe the Crikey journalists have ambitions to work for News Corpse one day. Have to play along with the MSM for all their dreams to come true?
    There is NO Turdball legacy in this scenario…absolutely NONE!
    Wake up Australia!!

    1. Marcus Hicks

      In Keane’s defence, I detect more than a hint of snarkiness in this article. The article also does highlight how, looking beyond the headline the government wants to trumpet, the actual underlying stats are utterly appalling (trend unemployment is up, wages growth way down, jobs growth has all but peaked).

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