Today’s labour force data is of little comfort to hard working Australians who are still battling the Albanese Government induced cost of living crisis.

It is always good to see Australians in jobs, but many are working harder for less while prices continue to rise.

Labour Force data released today shows unemployment rose slightly to 4.1% in January.

This comes as Wages Price Index data released on Wednesday confirmed that real wages have gone backwards across Labor’s term.

Since March 22, real wages have fallen by -2.0% and for working families, real wages have fallen by -8.9%.

Respected economist Shane Oliver yesterday forecast that real wages will not return to their 2020 levels until 2032.

Shadow Treasurer Angus Taylor said Australians would continue to go backwards under Labor’s failed economic management.

“The data is clear, Australians are working hard for less under Labor,” Mr Taylor said.

“Whether it is living standards, productivity, or real wages – if Labor’s plan continues, Australians will be poorer for a decade.

If you can’t manage the economy, you can’t manage a cost of living crisis. The only way to get back on track is to elect a Coalition Government that will restore prosperity, defeat inflation, and grow our economy for the next generation.”

Shadow Minister for Employment and Workplace Relations, Senator Michaelia Cash said: “Australians are battling to keep their heads about water, working harder for less and being smashed by rising prices of everything.”

“Labor’s cost of living crisis has meant that Australians have paid out tens of thousands of dollars extra on mortgages and other essentials that they can never get back,’’ Senator Cash said.

“As has been pointed out by Reserve Bank Governor Michelle Bullock the impact of home-grown high inflation over the past couple of years has permanently increased the price of goods and services,’’ she said. 

“Small businesses are also suffering from permanently increased costs of doing business, which has sent many to the wall,’’ Senator Cash said.

ENDS