Michaelia Cash (WA, Liberal Party, Deputy Leader of the Government in the Senate) Share this | Hansard source

I thank Senator Smith for the question. The Australian economy has well and truly demonstrated remarked resilience in the face of COVID-19. On any analysis, and as will be outlined tonight by the Treasurer when he delivers his next budget, the outlook is positive, in particular in relation to employment in Australia. The Morrison government is committed to getting more Australians into jobs, and what we have seen in relation to employment levels is that they have recovered since the sharp fall associated with the initial impacts of COVID-19. In fact, what we are seeing as the Treasurer will hand down his budget tonight, is more Australians are employed today than there were prior to COVID-19.

In particular, labour market conditions have substantially improved over the last six months. Employment increased: in October last year, 176,800 persons; in November, 86,200 persons; in December, 46,300 persons; in January this year, 29,500 persons; in February, 88,700 persons; and, colleagues, in March, the most recent labour force figures, by 70,700 persons. What we have seen is employment has risen by 947,100 persons from May 2020 to March 2021. What we have seen in relation to the unemployment rate is it declined to 5.6 per cent in March 2021, from a peak of 7.5 per cent, if you recall, colleagues, in July 2020, but it is also considerably lower than what Treasury first estimated, which was 15 per cent. So, in relation to employment, the jobs are returning to the labour market.