As the Albanese Labor Government nears the end of its first term in office, this brief provides a broad assessment of its employment record and where applicable, compares it with with historical government performance.

Key points

1. The Albanese Labor Government has overseen one of the lowest average unemployment rates of any government in Australian history.
2. This unemployment record has extended to cohorts traditionally left behind – with women, young Australians, those with less formal education and Indigenous Australians all additionally seeing record low unemployment rates.
3. Seven out of eight of Australia’s states and territories have seen their lowest average unemployment rates under the Albanese Labor Government.
4. Australia’s participation rate has continued to climb and is now at its highest rate since recording began.
5. Underutilisation is at sustained record lows since data collection began in 2015.
6. Job search times remain near record lows at just eight weeks in January 2025.
7. Workers are increasingly leaving jobs on their own terms.
8. Real wages are steadily being clawed back.
9. These employment outcomes have serious implications for individuals and societies.