Do-nothing Malcolm is cock-a-hoop about his jobs boom:
Prime Minister Malcolm Turnbull joined economists in hailing a booming labour market after data released Thursday showed the economy recorded its strongest year of jobs growth since the global financial crisis.
“What a great jobs number today,” an ecstatic Mr Turnbull said, adding it was the “equal-longest run of consecutive monthly job increases since 1978″.
…”Jobs and growth – the slogan in 2016 – [is] a big outcome this year,” Mr Turnbull said. The figures mean the government is close to meeting former Prime Minister Tony Abbott’s promise of creating 1 million jobs in five years, with 956,500 jobs created since the Coalition came into power in late 2013.
“The Turnbull government is delivering the right policies and making the right investments to get more Australians into work,” Employment Minister Michaelia Cash said.
Here’s where the jobs have been created:
In short:
- tourism and education;
- construction (apartments and infrastructure), and
- bed pans.
The Coalition can rightly claim credit for construction jobs via its asset recycling and mass immigration program. The health care boom is at least in part owing to Labor’s NDIS roll out. Tourism and education are largely exchange rate driven.
It’s hardly a dynamic economy though is it? Nor one that a “liberal” government should be proud of. Investment is minimal, productivity gains poor, it’s still debt-centric and the immigration driver hammers wages:
This is a place holder economy. One that pollies can claim is all good while standards of living fall under their smoke screen.
