Victoria’s accelerating jobs growth is showing no sign of slowing with nearly 30,000 jobs created in July alone – the highest monthly employment growth in the nation in both absolute and percentage terms.
The latest figures from the Australian Bureau of Statistics show that in the 12 months to July, more than 94,000 jobs were created in Victoria – the equal highest percentage of job creation in the nation.
Today’s exceptional results mean that since the Andrews Labor Government was elected in November 2014, 370,000 jobs have been created in Victoria.
Of the new jobs created, 234,300 of them are full time – more than six times the amount created under the previous Liberal and National Government which could only manage 39,000.
The State’s unemployment rate dropped 0.6 percentage points to 5.0 per cent – the lowest unemployment rate in more than six years in Victoria.
It’s also below the national rate of 5.3 per cent, and well down from the 6.7 per cent inherited from the previous Liberal and National Government.
Victoria now has the second lowest unemployment rate in Australia, just 0.1 percentage points behind New South Wales.
The youth unemployment rate in the year to July averaged 0.6 percentage points lower than the previous year – its lowest annual rate since February 2014.
Quotes attributable to Treasurer Tim Pallas
“Victoria’s jobs growth is going from strength-to-strength, with 370,000 new jobs created under the Andrews Labor Government.”
“Jobs mean people can support themselves and their families, provide dignity and purpose – that’s why we’re doing everything we can to boost employment.”
“Today’s news is great news for Victoria and once again confirms we are the economic powerhouse of the nation.”
Quote attributable to the Minister for Industry and Employment Ben Carroll
“Our record investment in infrastructure is creating thousands of jobs and delivering the hospitals, schools, roads and public transport system Victorians need.”
Reviewed 19 August 2020