The federal government will commit to adding one million jobs to the economy over the next four years when Treasurer Josh Frydenberg releases the mid-year budget update later today:
The mid-year budget update on Thursday will show a surge in employment growth between now and 2024-25, with 150,000 more jobs expected to be created than had been forecast in the May budget…
The Treasurer said the accelerated labour market recovery would equate to one million more jobs over the forward estimates, with the unemployment rate tipped to drop to a 15-year low of 4.25 per cent by 2023. This would be a half-point improvement on the May budget numbers which had the jobless rate dropping to 4.75 per cent by 2023.