Stimulus needed as employment falls

In light of the latest ABS labour force statistics showing a drop of 7,000 full-time jobs a week in August and an increase in unemployment levels, ACTU president Sharan Burrow said it is an indication the Federal Government’s stimulus measures should not be wound back just yet.

Burrow said the figures were a harsh reminder that it was far too early to be talking about a turnaround in Australia’s economy.

“More than 7000 full-time workers lost their jobs each week in August alone… and there are still almost 700,000 Australians out of work,” Burrow said.

“This data shows it is clearly too early to talk about hauling back the Federal Government’s stimulus package,” she added.

According to Burrows the next wave of spending should focus further on nation-building infrastructure to provide more jobs for hard working Australians.

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