New South Wales 4.3 % Trend Unemployment Rate Best Since 1978

New South Wales 4.3 % Trend Unemployment Rate Best Since 1978

New South Wales Treasurer Dominic Perrottet

Independent Report Praises Our Economic Strength

Victor P Taffa

CommSec’s State of the States report has highlighted the rock-solid fundamentals of the New South Wales economy which is continuing to power Australia’s growth and job creation.

Overall economic performance of New South Wales across all indicators saw the state ranked first, with our near-record unemployment level of 4.3 % a key highlight.

New South Wales Treasurer Dominic Perrottet said the report highlighted the state’s strong economic performance across all key economic indicators.

“We are a first-class state with a very strong economy.” Treasurer Perrottet said.

“Some states are strong in a handful of areas, we rate highly right across the board.”

“Our solid surpluses and record low net debt have allowed us to embark on an unprecedented $89.7 Billion infrastructure investment.”

“Our record investment is not just building better schools, roads, hospitals and public transport, it is helping power the economy and create hundreds of thousands of jobs.” Treasurer Perrottet said.

“New South Wales is consistently strong across the eight economic indicators.” CommSec report stated.

“Spending in New South Wales was 17.5 % above decade-average levels, once again supported by home building, infrastructure building and firm employment.” Treasurer Perrottet said.

“In New South Wales the trend unemployment rate of 4.3 % hasn’t been bettered in monthly records going back to 1978.”

New South Wales placed equal first in the latest edition of the quarterly report, which ranks each state and territory’s economy by using decade averages across a range of key economic indicators including:

  • Construction work,
  • Equipment investing,
  • Retail spending,
  • Unemployment.

“Our fantastic growth would be in jeopardy under Labor.” Treasurer Perrottet said.

“They want to cancel a swathe of projects such as the F6 and South West Metro and this would kill growth and destroy jobs.”

“Cancelling things is Labor’s default position. Doing nothing is their failed former Finance Minister’s happy place. Only the Liberals & Nationals have a plan for New South Wales and will continue to get the job done for New South Wales.” Treasurer Perrottet said.