Unemployment has jumped to six per cent, its highest level in a decade.
Mr Abbott said it was the job of his government to get the economic fundamentals right.
“If we are allowed to get on with our job, I believe things will get better, and they will get better quite quickly,” he told Fairfax radio on Friday, referring to a decision by Labor and the Greens to oppose key government legislation in the Senate.
However, he could not guarantee that jobs figures won’t bounce around month to month, noting the previous Labor government had forecast a 6.25 per cent unemployment rate by the middle of 2014.
“Unemployment is a lagging indicator and the figures today reflect economic conditions that were developing in the latter half of last year,” Mr Abbott said.