Jim Chalmers loses 70k jobs in 2.5 years

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He is an accomplished liar in parliament:

On Thursday, the Treasurer on social media platform X said new figures from the Australian Bureau of Statistics showed the Albanese government “has ­created more jobs in a parliamentary term than any government in history”.

“We’ve created almost 930,000 jobs since we came to ­office – faster jobs growth than any major advanced economy,” he said.

Notice the missing word here? It is “Australians”. Previously, Treasurer Jim “Chicken” Chamlers has referred to the number of jobs he has created for “Australians” but that is a lie.

The immigration of around one million people is higher than the number of jobs created.

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Chicken Chalmers has lost 70k jobs for Australians.

Worse, Australians have lost hours. ANZ:

Hours worked have increased by 1.4%y/y, with employment growing 2.8% y/y and population growth of 2.9% y/y.

This means that the employment-to-population ratio has declined from its peak and average hours worked has declined over the year.

Worst of all, Chalmers’s over migration and gas market cowardice have directly destroyed real wages:

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Jim “Chicken” Chalmers is a good liar but comfortably the worst treasurer in modern Australian history.

About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.