Opposition Shadow Treasurer Joe Hockey frequently refers to Australia having had a lower national unemployment rate during the Coalition’s last term in federal government. He was doing so on again on 11 March when discussing that month’s unemployment figures.
On the floor of the House of Representatives in February 2012 he erroneously stated:
Here Hockey was shamelessly taking credit for a low national unemployment rate of 4.1 per cent (not the 4 per cent he quoted) which occurred during the term of the Rudd Labor Government.
Interestingly, his idea of a generation is somewhat limited as Baby Boomers might recall that unemployment in their childhood years was well below 4 per cent, averaging out at 2 per cent between 1945-6 and 1974-5.
So how much lower was the Howard Government’s unemployment rate during its last term when compared with the current Gillard Labor Government?
Well for the record Australian Bureau of Statistics data reveals it was between zero to a provisional 1.2 per cent lower across the Howard Government’s final term, using ‘swearing in’ months, end of year month figures and general election months.
Unemployment rates during the Federal Coalition Government’s last term in office from 16 November 2004 to 24 November 2007:
5.3% Nov 2004
5.1% Dec 2004
5.1% Dec 2005
4.6% Dec 2006
4.4% Nov 2007
A change of federal government occurred on 24 November 2007. The Howard Coalition Government departs and the Rudd Labor Government is sworn in on 3 December 2007, ending the caretaker period overseen by the public service.
Global Financial Crisis (mid 2007 – late 2009) begins to significantly impact on Australia in 2008.
Unemployment rates during the Federal Labor Government’s current term in office 14 September 2010 to date:
5.1% Sept 2010
5.1% Dec 2010
5.3% Dec 2011
5.4% Dec 2012
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