December 2018 is the base or benchmark for the 1.25 million jobs to be created. Employment in December 2018 was 12.714 million.
Next step is to interpolate the MYEFO forecast for 1.75 per cent employment growth between the June quarter 2018 and the June quarter 2019 to get a June 2019 estimate for employment.
Next add to that number 1.75 per cent employment growth for 2019-20, then add 1.5 per cent employment growth for each of the next 3 years to get an estimate for the level of employment in June 2023.
To get the final 6 months of the 5 year projection, next add 0.75 per cent to that level (half the 1.5 per cent annual employment growth projected for 2023-24) to get an estimate for employment in December 2023 - 5 years from now.
There are some small - in fact tiny - rounding issues using estimates for quarterly employment levels to pin-point a monthly number in 5 years, but even rounding those estimate up, Mr Frydenberg’s MYEFO employment forecasts and projections suggest the Coalition would create just 954,000 jobs over the next 5 years.
I wonder where Mr Morrison got his numbers from?