Jobs will come with budget formula: Hockey

Treasurer Joe Hockey says the government's formula for the economy is working - and Labor's forecast of a 6.25 per cent jobless rate won't happen.

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Prime Minister Tony Abbott listens to Federal Treasurer Joe Hockey (AAP)

Treasurer Joe Hockey is confident Australia can avoid the 6.25 per cent jobless rate predicted by Labor.

Labour force data reported last week showed the jobless rate remaining at 5.8 per cent for a third month in a row, while over 100,000 full-time jobs were created since the turn of the year.

Mr Hockey said these results rebuke all the commentary from the Labor party about the job losses at the beginning of the year.

"There is still much work to be done ... that is why we have to get our budget through," he told parliament on Monday.

The government must provide certainty and stability when it comes to fiscal management, while its tax white paper, the review of federation and the reform of competition laws, is going to improve productivity.

"If we do all that, jobs will come," Mr Hockey said.

The government's formula for the economy is working because Labor's legacy of a 6.25 per cent jobless rate will not be reached, he said.


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