THE federal government won't meet its promise to create 500,000 new jobs in the two years to mid-2013, Shadow Treasurer Joe Hockey claims.
His prediction follows a weaker than expected jobs report for March released on Thursday by the Australian Bureau of Statistics.
It showed total employment fell by 36,100 and the unemployment rate ticking up to 5.6 per cent, from 5.4 per cent in February.
Mr Hockey said it was the highest jobless rate since November 2009, when Australia was beginning to emerge from the global financial crisis (GFC).
"During the GFC the unemployment rate peaked at 5.9 per cent in June 2009 - we are now only 0.3 per cent from this level," he said in a statement.
Mr Hockey said Treasurer Wayne Swan wouldn't meet his commitment announced on budget night 2011 to create 500,000 new jobs over the next two years.
"Since June 2011, employment has increased by 197,000," he said.
"Wayne Swan is still well short of the target and will need to create 303,000 jobs in just three months just to keep his promise."
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