Jim Chalmers has hit back at critics who argue many of the 1.1 million extra jobs created during the Albanese government’s first term have been underwritten by taxpayers, arguing 80 per cent of new positions are in the private sector, as he called for a business-led recovery.
In a speech to chief executives at Parliament House on Wednesday night, Dr Chalmers said unemployment was a low 4 per cent, the sharemarket was hitting record highs, household wealth had risen by 25 per cent rise and inflation was moderating.
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John Kehoe is economics editor at Parliament House, Canberra. He writes on economics, politics and business. John was Washington correspondent covering Donald Trump’s first election. He joined the Financial Review in 2008 from Treasury. Connect with John on Twitter. Email John at jkehoe@afr.com
Michael Read is the Financial Review's economics correspondent, reporting from the federal press gallery at Parliament House. He was previously an economist at the Reserve Bank of Australia and at UBS. Connect with Michael on Twitter. Email Michael at michael.read@afr.com
