The unemployment rate in regional Victoria is the second lowest in Australia, following strong improvement during the past 12 months, as reported by the Australian Bureau of Statistics (ABS) today.
ABS figures show that in the last 12 months, Victoria's regional unemployment rate has fallen from 6.6 per cent to 5.6 per cent – well below the national average of 6.1 per cent.
While there is always more to be done, particularly in some regions, unemployment in many areas fell, and in Victoria's largest regional centre, Geelong, with close to 10,000 new jobs, the unemployment rate fell 3.6 per cent during the 12-month period.
The news is further evidence of Victoria’s growing economic momentum and coincides with the latest ABS population data that confirms Victoria is a leading destination for overseas and interstate migration.
Victoria’s population is now almost six million people – a fraction short of a quarter of the nation’s entire population.
Victoria is the fastest growing state in Australia while consumer confidence in Victoria is the strongest in the nation.
All the economic indicators are reinforcing the Andrews Government’s determined efforts to build business and jobs momentum, and to create opportunities for Victorians to share.
Quotes attributable to Treasurer Tim Pallas
“People go where the jobs are. It is no coincidence that Victoria’s population is surging in line with its economy.”
“People have every right to have confidence in Victoria again. The Andrews Labor Government will continue to press ahead with its agenda to ensure Victoria is once again the leading state in Australia.”
Quotes attributable to Minister for Employment Jacinta Allan
"Today's figures show regional Victoria is getting back to work under the Andrews Labor Government, with more people employed and more people choosing to live here.”
“Through our $500 million Regional Jobs and Infrastructure Fund and projects like the $416 million Murray Basin Rail Project, we're investing to ensure regional Victoria continues to grow.”
Reviewed 10 February 2021