The nation's economy is an "island of security" says Treasurer Jim Chalmers despite less certainty about interest rate cuts among economists after stronger-than-expected jobs data.

Dr Chalmers hailed low unemployment in a speech to investors in Sydney, saying 1.2 million jobs had been created since Labor won office in May 2022.

Rattling off a list of economic achievements, he said around 80 per cent of employment growth since then had been in the private sector.

"Participation above two thirds of the available workforce," he said.

"Real wages growing at their strongest rate in five years. Inflation around a third of its peak.

"Australia is an island of security, stability and reliability in a sea of uncertainty and risk."

But the strong jobs data has more forecasters convinced the Re

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