Treasurer Josh Frydenberg says the "real positive story" out of Australia's economic rebound is how well the labour market has held and the amount of jobs being created. This comes as the latest ABS data shows Australia's economy grew 3.4 per cent during the December quarter, setting the government up for a better than expected budget. "What's been particularly pleasing is that we've avoided the experience of the 1980's, the 1990's recessions in Australia - where we saw labour markets going, long-term unemployment," Mr Frydenberg told Sky News Australia. He said it took nearly a decade to get this employment rate back to where it was, pre-pandemic. "This time around, our labour market has bounced back very strongly, and in that December quarter we saw 375,000 new jobs being created, we saw the unemployment rate go from 5.2 per cent in October down to 4.2 per cent in December - the lowest level in more than 13 years."
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