- Published:
- Thursday 31 March 2016
The outlook for Victoria's labour market is increasingly robust, according to the latest figures from the Australian Bureau of Statistics.
Released today, the figures show job vacancies in Victoria surged by 35 per cent over the year to February 2016 - the strongest growth rate among the states, and nearly three times the national average (13.5 per cent).
The figures revealed there were 47,300 job vacancies in Victoria in February 2016, the highest level in five years.
And the State's capacity for job creation shows no sign of slowing with sustained growth in the most recent quarter.
Between November 2015 and February 2016, job vacancies increased by 17.4 per cent - again, the strongest growth rate of all states and above the national average (2.7 per cent).
The ABS reports job vacancies in Victoria have now increased for eight consecutive quarters.
In a sign of confidence and private investment in the Victorian economy, the vast majority of job vacancy growth was in the private sector with 44,100 private sector job vacancies in February 2016. This is the equal highest level on record.
Over the year to February 2016, Victorian private sector job vacancies increased by 35.3 per cent - again, the strongest growth rate of all states and well above the national average (13.2 per cent).
Private sector job vacancies in Victoria have also increased for eight consecutive quarters.
Quotes attributable to Treasurer Tim Pallas
"This is more good news for Victorians and reflects the confidence returning to the Victorian economy."
"We came to Government promising job opportunities and that's what we're delivering, with strong numbers of vacancies, and more than 100,000 new jobs created since November 2014."
"This month we've seen a surge in employment against the national trend, and today we're witnessing a leap in job vacancies that also bucks the trend."