TRANSCRIPT
Press Conference
Topics: Labour force figures, cost of living
17 August 2023
E&OE.
Senator Cash
Well, while Mr. Albanese and Labor are patting themselves on the back today and talking about themselves up in Brisbane, Australian families are still facing a cost of living crisis. And what we’ve seen today with the release of the labour force figures for July is that unemployment has now increased to 3.7%. It’s incredibly concerning that the economy has actually shed jobs. But more than that, there has been an increase in the number of hours worked. What does that mean for Australians? It means they are working more hours, but under Mr. Albanese they’re actually not getting ahead as a result of doing that. But we’ve also seen a decrease in the participation rate and that is concerning because the participation rate is all about Australians putting up their hand and saying I’m ready, willing and able to work. In other words, I have faith in the strength of the economy. And the figures for July today unfortunately – increase in unemployment, decrease in participation, the economy shedding jobs and in particular full time jobs and an increase in Australian’s working hours without getting any reward for it. It is not good news for Australian families. But of course, this is also all on the back of earlier this week, the figures for the June quarter in terms of wages being released. And despite Mr. Albanese and all of his promises prior to the last election, that under his government he would get real wages moving, what we have yet again seen is that under Mr. Albanese – and this is a government now that has been in office for going on 15-16 months, it’s not a new government anymore, real wages continue to go backwards. And for the June quarter, what we saw was real wages under Mr. Albanese and Federal Labor have gone backwards. So must be great for Mr. Albanese to be in Brisbane today talking about himself, talking about Labor and what a great government they are. And yet the reality for Australian’s, Australian families, businesses and in particular those small businesses out there who are doing it tough, the wages figures and the unemployment figures are not good news. We have a cost of living crisis and Mr. Albanese and Labor need to show Australians that they have a plan to address this and sadly, they don’t. And that is reflected in the things we are now seeing. Any questions?
Journalist
Yes. So, while the unemployment rate may have risen, there are still many jobs on offer. Businesses say they can’t find workers, why aren’t people taking the jobs on offer?
Senator Cash
Well again, this just shows you what you’re seeing in today’s figures though are an increase in the number of hours worked. So the Australian people, they are actually putting up their hands, they are taking on those additional shifts, they are doing that extra day but they are seeing nothing for it. And I think that’s the most concerning bit about today’s figures is that most Australians continue to put their hands up and do those additional hours. Under Mr. Albanese, they’re getting nothing more for it but what is worse, they are actually going backwards. But what is also concerning is the fact that the economy shed full time jobs. And when you go around and talk to businesses, what businesses are looking for is a plan to increase productivity. You increase productivity, you increase investment in your business, you’re able to increase wages. But what we hear from businesses constantly is that this government does not have a plan to address productivity. They also don’t have a plan though to actually tackle those numbers of jobs that are still out there. And that is really concerning in particular for businesses who are looking for people.
Journalist
It was predicted that the unemployment would rise slightly. So does this come as a surprise?
Senator Cash
Well, it certainly is higher than what the market expectations was. And as I said, what businesses are looking for is a plan so that they can increase their productivity. Instead, what you are getting from Mr. Albanese and Labor is everything but. You have a government that particular when it comes to their industrial relations agenda, they are just delivering on a union agenda. They are taking control away from employers and employees, and they’re handing that control over to the unions and to the Fair Work Commission. The one word, the key word in fact, that is missing from Anthony Albanese and the Labor Party’s economic agenda for Australia is productivity. If you don’t have a plan to increase productivity, you don’t have a plan to help business. If you’re not helping business then you’re not helping the employees of Australia. That is what is sadly lacking a plan for productivity. And it’s seen today in the labour force figures. But not only that, in the fact that for the June quarter real wages in Australia continue to go backwards under Mr. Albanese.
Journalist
And what should governments do? What should the government do to change the status quo?
Senator Cash
Well again, a plan to lift productivity and that is the fundamental part of their economic agenda that is missing. I mean, you see their attack on the industrial relations system and in particular, the next tranche that they want to bring in. In fact, we’re going to return in September, we expect that legislation will be tabled, they want to attack labour hire in Australia, they want to attack the gig economy, they want to attack casuals. Attacking those parts of the workforce in Australia does nothing to assist businesses in accessing the labour that they need. Businesses want a plan to increase productivity, not just a plan that delivers on the union’s agenda for Australia.
Journalist
What are you hearing from voters about the cost of living pressures? What’s hurting the most?
Senator Cash
You just have to walk through a shopping centre as I do all the time in particular here in Perth. People will now, they will now come up to you and they will say I can no longer afford to live. They will say Mr. Albanese promised me so many things before the election and he has failed to deliver on any of those promises. People are working more hours but they’re not getting any benefit from doing that. When you look at in particular, the price of groceries in the supermarket, people are now having to make active decisions on what they’re not going to buy. You go and talk to small businesses in particular café owners and they will say to you – it used to be coffee and cake, people are now only purchasing say a coffee. So, people are actually changing their spending habits. And then you don’t want to talk to someone who has been on a fixed rate and is moving to a variable rate. Because they will literally tell you they have no idea where they are going to find the additional say $1,000 a month that they are going to need to be able to service their mortgage. And then of course in particular, when you’re in the eastern states – the cost of energy, people’s power bills, it is there in black and white in front of them. Despite everything that Mr. Albanese said to them, prior to the election – he would be their savior, he would get real wages moving again. Well, he got the moving except they’re going backwards. He would bring electricity prices down, well they’ve gone up. You know, he would tackle interest rates and inflation. Well guess what he’s tackling them and interest rates and inflation are actually winning. So it doesn’t matter who you talk to, whether it’s business, small business in particular, and then just average Australians. They are screaming out for a government to put in place a plan to make life better for them. And again, real wages going backwards, electricity prices getting higher, interest rates getting higher, mortgages – people aren’t going to be able to afford them, you have a cost of living crisis, you have a rental crisis – this is a government in crisis. And all you see today, patting themselves on the back in Brisbane, telling each other how great they are. They need a plan to address the cost of living crisis in Australia. Thank you very much.
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