Malcolm Turnbull has labelled the longest run of monthly job gains in almost a quarter of a century an "extraordinary" achievement.
"It is a tribute to the enterprise and the hard work of Australian businesses," the prime minister told parliament as he responded to the latest jobs figures showing the number of people in employment grew by 19,800 in September.
The result was slightly higher than forecast by economists and follows several months of exceptionally strong full-time employment growth.
The Australian Bureau of Statistics said 6100 people gained full-time employment in the month while 13,500 workers gained part-time employment.
It marked a full year of monthly jobs gains, the longest uninterrupted run since 1994.
Treasurer Scott Morrison told parliament 316,000 full-time jobs had been created in the past year, a record since employment surveys began 40 years ago.
The jobless rate also eased to 5.5 per cent in September, equal to the four-year low recorded in May.
Economists had expected the unemployment rate to stay at 5.6 per cent for the fourth month in a row.
While acknowledging the gains, opposition employment spokesman Brendan O'Connor said there were still serious challenges when it came to underemployment and record-low wages growth.
"Australians are feeling the pinch and Turnbull and his Liberals have no plan to address this challenge," he said.
Employment Minister Michaelia Cash told reporters the next phase the government wants is businesses actively looking at how they can lift wages growth.
Small and big business groups joined forces in Canberra on Thursday in attempt to pressure MPs to back company tax cuts for the big end of town.
Doing so would help to lift wages, they argued.
Parliament already has approved a cut - from 30 per cent to 25 per cent - for businesses with a turnover of up to $50 million.
Business Council of Australia chief executive Jennifer Westacott said it was not a question of big business versus small business because one could not exist without the other.
Business software provider MYOB boss Tim Reed and Council of Small Business Organisations of Australian head Peter Strong agreed.
"Individual businesses don't exist on their own. They don't thrive on their own," Mr Reed told reporters.
Mr Strong said the small business tax cuts would become meaningless if big companies don't get them as well.
"There would be fewer jobs and less prosperity for Australia," he said.
