New South Wales Unemployment Rate Continues To Fall

New South Wales Unemployment Rate Continues To Fall

New South Wales Treasurer Dominic Perrottet

New South Wales Takes Gold Medal For Jobs Creation

Victor P Taffa

Best employment figures for New South Wales in more than a decade have had a positive impact with people in tougher job segments finding it easier to get work.

Latest ABS detailed labour force figures for New South Wales revealed the unemployment rate for the over-55’s was just 3.5 % with 126,800 jobs added since the 2015 election.

Over the year to September, Western Sydney employment has increased by 49,600 people, with the unemployment rate sitting at a record low 4.9 %.

In the same period, regional New South Wales employment (excluding Sydney, Newcastle and Illawarra but including the Central Coast) increased by 39,100 people, with the unemployment rate at 5.8 %.

Traditionally tough youth unemployment rate is now 10.2 %, down from 11.7 % in 2011 when the Liberals and Nationals Government came to office.

This is the lowest of any state, and almost 2.6 percentage points lower than the rest of Australia at 12.8 % (national rate including New South Wales is 12.0 %).

New South Wales Treasurer Dominic Perrottet said New South Wales’s overall unemployment rate of 4.4 % was having a positive impact right across the New South Wales economy.

“Last time we saw an unemployment rate this low Usain Bolt was preparing to win his first gold medal at the Beijing Olympics, rather than trying out for a spot on the field with the Central Coast Mariners.” Treasurer Perrottet said.

“Usain may have struck gold in 3 Olympics since then, but our policies have struck gold by creating more 550,000 jobs since 2011.”

Treasurer Perrottet said creating youth and regional jobs was always challenging, but the once in a generation $4.1 Billion Snowy Hydro sale would have huge flow on benefits.

“Labor have pledged to cancel many of the projects we fought so hard to implement. They are the party of chaos beholden to the unions and will kill jobs not create them.” Treasurer Perrottet said.

 

Abbreviations:

ABS                Australian Bureau of Statistics