Big Jobs

So Wayne has announced that our Labor Government will *create* another 500k jobs over the next two years.

Very interesting Wayne - good on ya. There is some doubt about whether those jobs will actually be *created* by our government but lets ignore that for the moment and focus on the history.

In terms of Full Time jobs, the Australian economy *created* around 185k jobs in 2008, *lost* around 36k jobs in 2009 and *created* 391k of them in 2010. Part Time jobs looked like this. 2008 +27k, 2009 +165k and 2010 +134k.

So in 2010 391k FT and 134k PT jobs were added to the nation. Total of 525k actual real jobs as measured by the ABS. The average of the 3 years leading to 2010 were 180k FT and 108k PT - a total of 288k.

And you are forecasting the creation of 500k jobs over the next two years? Or say 250k each year.

I don't want to alarm anyone but this is roughly half the rate of job creation that we saw in 2010 - and slightly less than the average growth rate over the past three years - which INCLUDED the Global Financial Crisis.

Is Wayne expecting another GFC to impact his job creation activities?