Employment Grows Faster than Budget Forecast
The August ABS Labour Force figures show an encouraging growth of 2.0% s.adj in employment over the past twelve months. This is faster than the 2015-16 budget forecast (1.5%) and than the growth in the working age population of 1.5%. This means that there has been a significant increase (2.2%) in the participation rate ie the proportion of the working age population which is employed or actively looking for work.
