Treasury analysis shows record job growth for government in first year

The figures come as the government marks one year in power, with Prime Minister Anthony Albanese spending the anniversary at the G7 summit in Japan.

According to the analysis, which captures data between May 2022 and April 2023, the Albanese government had overseen more jobs created than any new government in its first year in around 50 years, performing better than Rudd, Howard and Hawke governments on the metric.

It puts Australia at the front of major advanced economies in employment growth, at 2.5 per cent since May 2022, the data shows.

According to the figures, female unemployment has also dropped to 3.3 per cent, the lowest it has been since 1973, while full time employment for women has grown by 6.2 per cent in the past year.

At the same time, the bureau's April figures show unemployment had risen to 3.7 per cent.

The federal government's May budget included a $14.6 billion cost-of-living relief package, with a $40 fortnightly JobSeeker payment boost but that fell significantly below what many have been calling for, including the government's own Economic Inclusion Advisory Committee, which recommended a $181.25 fortnightly increase.

Wages are still growing slower than inflation and with some expecting another interest rate hike in August, Australians may be forced to again tighten their belts.

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But the Treasury analysis does shows wages are picking up and more are seeing their incomes increase, with 60 per cent of jobs recording a higher wage rise than the previous year to the March quarter.

Treasurer Jim Chalmers said more Australians working and earning more were "among the really pleasing economic outcomes over the past year".

"We're pleased wages are moving again, but we know that we need to see inflation moderate to secure real wages growth and ease the cost-of-living pressures felt by many Australians," he said.

In a statement on the government's one year anniversary, Acting Prime Minister Richard Marles said the government was proud of its achievements in the past year, including "getting wages moving", energy price relief and cheaper child care.

"We're 12 months in, there's more to be done, and we're not taking this opportunity to build a better future for granted," he said.

"In our next year we seek a momentous change, one that recognises Aboriginal and Torres Strait Islanders in our Constitution by enshrining a Voice to Parliament."

Meanwhile Mr Albanese, in Hiroshima, thanked Australians for the opportunity to represent the country and lead the government.

On Saturday, Mr Albanese and US President Joe Biden signed a new climate deal to "advance ambitious climate and clean energy action".