The Prime Minister announced this morning that his government has targeted 1.3 million new jobs over the forecasting period.
In the most recent federal budget, employment is forecasted to increase by around 690k jobs in the four years between 2022 and 2026, as pointed out by economist Callam Pickering, with employment forecasted to increase by only 1% in the 2024 and 2025 financial years.
Treasurer Frydenberg said that “the Budget was our economic plan for the future – it laid out how we will create more jobs in manufacturing and also secure our supply chains”, however, it is unclear from the budget how the Prime Minister intends to reach his 1.3 million jobs target in the absence of a significant increase in immigration, above budget estimates.
The Prime Minister’s office has been contacted for comment.
Callum Foote was a reporter for Michael West Media for four years.