Sam Dastyari (NSW, Australian Labor Party) Share this | Link to this | Hansard source

My question is to the minister representing the Prime Minister, Senator Brandis. I refer to the Australian Bureau of Statistics data released last week which shows that wages growth has fallen to 1.9 per cent, the lowest rate of wage growth since the ABS started publishing the Wage Price Index in 1998. Why are Australian average wage earners the losers under Mr Turnbull?

George Brandis (Queensland, Liberal Party, Attorney-General) Share this | Link to this | Hansard source

We are all winners from a prospering economy, and the Australian economy today is a prospering economy. I recited in answer to the question asked of me by your colleague Senator Watts the economic growth figures, the export growth figures and the consumer confidence figures. But in relation to wages, can I tell you that over the past three years wages growth has been higher than CPI, meaning that there has been growth in real terms. Wages are up by 6.9 per cent since the September quarter of 2013, at a time when inflation, aggregated over that period, has been running at 5.2 per cent. So in terms of average annual growth, wages have risen at 2.2 per cent per year, compared with CPI growth of 1.7 per cent a year. Growth in the CPI in the last three years has itself been much lower than historical trend growth, while wages in the public sector have grown faster than in the private sector. Public sector wages have grown at an average of 2.6 per cent, compared with 2.2 per cent in the private sector. Commonwealth public sector wages growth has been 0.9 per cent per year. Across the states and territories, average annual growth in public sector wages has ranged from 2.4 per cent to 3.4 per cent.

Senator Dastyari, the growth of real wages during this period of coalition government reminds us of the growth in real wages during the previous period of coalition government—under the Howard government—which saw Australia—(Time expired)

Stephen Parry (President) Share this | Link to this | Hansard source

Senator Dastyari, a supplementary question?

Sam Dastyari (NSW, Australian Labor Party) Share this | Link to this | Hansard source

I can refer to ABS data, which shows that employment growth has slowed to just 0.9 per cent, collapsing by more than half in only three months. Why are Australian job seekers the losers under Mr Turnbull?

George Brandis (Queensland, Liberal Party, Attorney-General) Share this | Link to this | Hansard source

Well, Senator Dastyari, as I said to you at the start, nobody is a loser in a prospering economy, and this economy is prospering. You asked me, Senator Dastyari, about growth in employment. The unemployment rate, as I said in answer to your colleague Senator Watts, is at the moment standing at 5.6 per cent, its lowest level in three years.

Senator Cameron interjecting—

Stephen Parry (President) Share this | Link to this | Hansard source

Senator Cameron.

George Brandis (Queensland, Liberal Party, Attorney-General) Share this | Link to this | Hansard source

its lowest level in three years.

Senator Cormann interjecting—

Stephen Parry (President) Share this | Link to this | Hansard source

Senator Cormann.

George Brandis (Queensland, Liberal Party, Attorney-General) Share this | Link to this | Hansard source

and twice as many jobs were created in the last 12 months as in your last 12 months in office. Our economy is growing faster than that of any other G7 nation. The annualised growth rate is 3.3 per cent, Senator Dastyari. So there we have it—(Time expired)

Senator Bilyk interjecting—

Stephen Parry (President) Share this | Link to this | Hansard source

Order, Senator Bilyk. Senator Dastyari, a final supplementary question.

Sam Dastyari (NSW, Australian Labor Party) Share this | Link to this | Hansard source

Was overseeing an economic agenda under which average wage earners and job seekers lose out the kind of economic leadership Mr Turnbull had in mind when he deposed former Prime Minister Abbott?

George Brandis (Queensland, Liberal Party, Attorney-General) Share this | Link to this | Hansard source

Well, Senator Dastyari, I am sorry but the facts are stubborn and impressive, and they give the lie to what you have asserted. As I said to you a moment ago, and I will keep repeating it, unemployment at the moment—

Opposition Senators:

Opposition senators interjecting—

Stephen Parry (President) Share this | Link to this | Hansard source

Order on my left!

George Brandis (Queensland, Liberal Party, Attorney-General) Share this | Link to this | Hansard source

at 5.6 per cent is at its lowest level for three years. The rate of real wages growth has consistently outperformed the CPI throughout the period of this government. The rate at which new jobs are being created is significantly higher than the rate at which jobs were created under the previous government of the Australian Labor Party. So, Senator Dastyari, a prospering economy, a booming export sector, burgeoning business confidence, burgeoning consumer confidence, low unemployment, consistently higher wages growth than CPI, that is the—(Time expired)