The Turnbull government will ramp up its campaign for deeper company tax cuts over the coming weeks as it seeks to convince the Senate that following Donald Trump's economic lead will help extend Australia's record-breaking run of job creation.

But Labor has been quick to rule out changing course on the $65 billion cut when Federal Parliament returns next month, describing it as an "extraordinary waste of money".

Treasurer Scott Morrison returned to work on Sunday to trumpet last week's jobs figures, which showed employment rose every month in 2017 – the first time that's happened in a calender year since records began four decades ago.

The economy added nearly 400,000 jobs between December 2016 and December 2017 – and Mr Morrison believes the government's first round of company tax cuts, which passed in March last year, was a key reason for the "extraordinary" numbers.