Victoria was the only state in the nation to record an increase in employment during February, according to the Australian Bureau of Statistics (ABS).
Today’s ABS figures confirm 10,600 jobs were created in Victoria in February, taking the total to 203,300 since the Andrews Labor Government was elected in November 2014. This figure includes 117,400 full time jobs.
Over the year to February 2017, a total of 97,300 jobs were created – the majority full time – pushing the number of people currently employed in Victoria to nearly 3.1 million. The rest of Australia combined created just 7,300 jobs over the same 12 month period.
Victoria’s unemployment rate sits at 6.1 per cent following an increase in the participation rate as more people, buoyed by strong economic conditions locally, re-entered the labour market looking for work.
Today’s strong employment figures follow yesterday’s good news from the Westpac Melbourne Institute (WMI) Consumer Sentiment index, which showed Victorian consumer sentiment increased again in March – 2.3 per cent higher than a year ago – and continues to remain in positive territory.
The WMI index also noted the Victorian Time-to-Buy-a-Dwelling index rose sharply by 21.4 per cent due to the Andrews Government’s recent announcement of a range of new measures in the Homes for Victorians package.
Quotes attributable to Treasurer Tim Pallas
“Victoria is leading the nation with more than 200,000 jobs created since November 2014 – everywhere you look there are cranes in the sky and boots on the ground thanks to our enormous infrastructure investment.”
“Our triple-A credit rating is intact, our employment growth is the envy of the nation and our record funding for schools, hospitals and critical infrastructure is ensuring Victorians get the services and support they deserve.”
Quotes attributable to Minister for Industry and Employment Wade Noonan
“We’re a state of momentum – with strong economic growth and more than 200,000 new jobs created.”
“By investing in the projects that create job opportunities for Victorians, we’re driving economic growth right across the state.”