Victoria’s strong economy continues to translate into new jobs, with the state's unemployment rate now below the national rate, the Australian Bureau of Statistics reported today.
Victoria’s unemployment rate now sits at 5.6 per cent – the equal second lowest unemployment rate in Australia - and well below the 6.9 per cent it reached under the previous Liberal Government.
Since the Andrews Labor Government was elected, a total of 113,500 jobs have been created throughout Victoria.
Youth unemployment also continues to fall and is now almost two percentage points lower than this time last year.
Importantly, Victoria's labour market is expected to remain robust, bolstered by the Victorian Budget 2016/17 which invests in infrastructure and the services Victorians need.
Recent trends in leading indicators of employment growth, such as job advertisements and job vacancies, indicate that solid jobs growth is likely to continue in the near term.
Quotes attributable to Treasurer Tim Pallas
“This is more good newsfor Victoria and shows us rightfully reassertingourselves as a national powerhouse of economic activity and jobs creation.”
“These new jobs are being generated by an increasingly confident business and consumer community, supported by the strong economic momentum the Andrews Labor Government has created in its first 18 months of office.”
"Strong financial management - with the recent Victorian Budget 2016/17 mapping out strong surpluses - is ensuring that when it comes to our promise to create more jobs for Victorians, we are getting it done."
Reviewed 19 August 2020