Low unemployment has continued under the Albanese Government, according to ABS Labour Force figures for February released today.
Today's data shows some expected softening in the labour market, but unemployment is still very low at 4.1 percent.
The figures show that a total of 1,031,100 jobs have been created since the Albanese Government came to office, the most in any single parliamentary term in Australian history.
While there are still challenges in our economy and people are still under pressure, we still have Australia's lowest average unemployment rate of any government in over 50 years.
The labour force participation rate is at 66.8 percent, an increase from 66.6 percent recorded in February 2024. Under Labor, unemployment is low, inflation is down, real wages are rising again, interest rates have started to come down, debt is lower and growth is rebounding solidly.
The underemployment rate decreased by 0.1 percentage points over the month, to 5.9 percent in February 2025, the equal lowest rate recorded since August 2008.
The youth unemployment rate was also steady over the month at 9.1 percent.
The ABS notes that fewer older workers returning to work in February contributed to the slight fall in employment this month, with higher levels of retirement in recent months.
Today's labour force results continue to underscore the underlying resilience of the Australian labour market.
These results are testament to the strength of the Albanese Government's economic plan, demonstrating that you can grow jobs and wages, keep unemployment low and get inflation down.
That's all while we've delivered significant cost of living relief and a tax cut for every Australian, helping you keep more of what you earn.
Quotes attributable to Minister for Employment and Workplace Relations Murray Watt:
Under our Government unemployment is at historic lows and more Australians are finding work.
We've got inflation down, got real wages rising, delivered cost of living relief and now we're seeing interest rates come down as well.
We know there's more to do, but all this progress is at risk under Peter Dutton and the Liberals who want to cut billions of dollars of critical programs and slash thousands of jobs.
Peter Dutton's cuts mean you will pay. His plan puts thousands of Australian jobs at risk.
Quotes attributable to Treasurer Jim Chalmers:
While there are still challenges in our economy and people are still under pressure, we still have the lowest average unemployment of any government in the last 50 years.
Low unemployment and much lower inflation is a remarkable combination when you look at our historical experience and what's happening in other countries.
Under Labor, unemployment is low, inflation is down, real wages are rising again, interest rates have started to come down, debt is lower and growth is rebounding solidly.
Peter Dutton will come after the gains we've made on jobs and higher wages if he is given the chance, and he will cut the essential services that employ thousands of Australians.
