Queensland’s jobless rate has risen to 6.8 per cent, but the government is confident of bring it down to 4.0 per cent in three years.
Queensland’s government is still committed to cutting the jobless rate to four per cent despite unemployment hitting an 11-year high.
The state’s seasonally adjusted unemployment rate jumped half a percentage point to 6.8 per cent in July, the highest since June 2003, Australian Bureau of Statistics show.
It’s also above the national average of 6.4 per cent, which is at a 12-year high.
Queensland has the fourth highest unemployment rate after Tasmania, South Australia and Victoria.
Treasurer Tim Nicholls says those numbers are “clearly not acceptable”, but the government remains committed to its unemployment target.
“We’re going to continue to work hard every day to achieve that target so people do have a future in this state,” he told reporters.
Mr Nicholls said the participation rate, the number of people working or looking for work, was still very strong.
He also said that more than half the jobs created in Australia in the past 12 months were created in Queensland.
The treasurer was confident state infrastructure programs and the rollout of the Queensland Plan would help meet the government’s four per cent unemployment target by 2017/18.
But shadow treasurer Curtis Pitt said that promise was “in tatters”.
He said Treasury had forecast unemployment to still be above five per cent in 2017/18.
“So they’re not just missing their employment target by a little bit, they’re missing it by a country mile,” Mr Pitt told reporters.
“This is a decade high, higher than what we saw during the global financial crisis, higher than what we saw after the summer of natural disasters, this is a direct result of Campbell Newman and his economic policies here in Queensland.”