Victoria Unemployment Down To 5.2%

Victoria Unemployment Down To 5.2%

Victoria Treasurer Kim Wells

Unemployment Falls Sharply In Victoria

Victor P Taffa

Victoria-Second Lowest Unemployment Rate In Australia

Victoria’s unemployment rate fell sharply in December from 5.5 % to 5.2 %.

Treasurer Kim Wells said Victoria’s unemployment rate was the second-lowest of all Australian states.

“Today’s data showing a fall in Victoria’s unemployment rate follows strong results released yesterday for building activity and a strong rise in consumer sentiment.” Mr. Wells said.

The Australian Bureau of Statistics (ABS) Building Activity results for the September Quarter showed that total building work rose 5.4 % in Victoria. This was the strongest growth of any state, well ahead of national growth of 0.1 %.

 

Over the year, Victoria was the only state to have positive growth in total building work done, growing 3.5 % against a fall nationally of 8.9 %.

“The Westpac-Melbourne Institute Consumer Sentiment Index showed that Victorian consumer sentiment increased markedly in January to make Victoria the second-highest reading of all states behind Western Australia.” Mr. Wells said.

“These are encouraging results that again demonstrate Victoria’s economy is well positioned to meet the challenges of a weaker national economy and international uncertainty in global markets.”

“On a range of key indicators Victoria’s economy is outperforming every other state, or is second only to Western Australia.” Mr. Wells said.

Victorian regional unemployment fell by 0.4 % to 4.7 % in the three months to November and is the lowest unemployment rate of any regional economy except for WA.

“The Coalition is implementing a responsible fiscal and economic reform agenda to generate new jobs, increase business investment, and grow our trade exports.” Mr. Wells said.