Jim Chalmers (Rankin, Australian Labor Party, Shadow Treasurer) Share this | Link to this | Hansard source

My question is to the Treasurer. Can the Treasurer confirm that more than 30,000 Australians lost their jobs in April, that 64,000 people gave up looking for work altogether and that, for those who were fortunate enough to keep their jobs, the budget papers confirmed that this government will deliver a cut to their real wages?

Josh Frydenberg (Kooyong, Liberal Party, Treasurer) Share this | Link to this | Hansard source

It is quite alarming to get a question from the shadow of a shadow Treasurer after he went into witness protection on the day the unemployment numbers came out—because the unemployment rate came down. It came down to 5.5 per cent, 33,800 new full-time jobs were created, the underemployment rate came down to its lowest level in seven years and the youth unemployment rate was the lowest level in 12 years. And the member for Rankin was nowhere to be seen, because he didn't read the ABS release. The ABS said in their statement on that day that the end of JobKeeper had no discernible impact on the employment numbers between March and April.

So the member for Rankin has shown himself to be the economic novice that we all know he is. He has no credibility. This is what the member for Rankin said would happen with the end of JobKeeper: 'Cutting JobKeeper will have diabolical consequences for workers and small businesses' and, wait for it—

Hon. Members:

Honourable members interjecting—

Josh Frydenberg (Kooyong, Liberal Party, Treasurer) Share this | Link to this | Hansard source

Wait for it; this is what the member for Rankin said—

Tony Smith (Speaker) Share this | Link to this | Hansard source

The Treasurer will resume his seat. The member for Rankin on a point of order?

Jim Chalmers (Rankin, Australian Labor Party, Shadow Treasurer) Share this | Link to this | Hansard source

On relevance, Mr Speaker. The Treasurer was asked about the 30,000 people for whom this does have a discernible impact. Thirty thousand people lost their jobs and he's laughing about it.

Tony Smith (Speaker) Share this | Link to this | Hansard source

I would say to the member for Rankin that the question asked about that and some other matters as well, and I think the Treasurer is being relevant on the policy topic. The Treasurer has the call.

Josh Frydenberg (Kooyong, Liberal Party, Treasurer) Share this | Link to this | Hansard source

Mr Speaker, we are laughing at the shadow of a shadow Treasurer, the member for Rankin. Not even the Leader of the Opposition has confidence in the shadow Treasurer, and he had to get the member for Corio to take on the new portfolio.

The reality is that, the day the unemployment numbers came out, the member for Rankin went into witness protection because he's embarrassed by his own words—'diabolical consequences'. The harsh reality for the member for Rankin is that his prophecies of doom did not eventuate. In the month of April, the unemployment rate came down to 5.5 per cent—came down—33,800 new full-time jobs were created, the underemployment rate fell to its lowest level in seven years and the youth unemployment rate fell to its lowest level in 20 years.

We on this side of the House are championing the cause of job creation. We on this side of the House are pleased when more Australians get into jobs. The only people who are commiserating with more people being in work is the Leader of the Opposition and the shadow of a shadow Treasurer, the member for Rankin.