In Business

Victoria Treasurer Tim Pallas

20,000 New Jobs Drives Unemployment To 7-Year Low

Victor P Taffa

Nation-leading jobs growth has driven Victoria’s unemployment rate down to 4.5 % the lowest it’s been in more than 7 years.

“Jobs creation has been at the forefront of everything we do. We said we’d create the right environment to invest, expand, and hire and we’ve delivered.” Treasurer Tim Pallas said.

“Every new job gives another Victorian a chance to contribute to their family, their community, to our growing state.”

More jobs were created in Victoria than anywhere else in the country, with new data from the Australian Bureau of Statistics showing 20,000 new jobs were created in Victoria in the past month driven entirely by full-time jobs.

Today’s exceptional data means that 392,000 new jobs have been created since the Andrews Government was elected the vast majority of them full-time.

“We said we’d create jobs for Victorians and we’re delivering. Our huge infrastructure pipeline is delivering the rail, roads, hospitals and schools Victorians need and creating jobs and boosting local industries.” Minister for Industry and Employment Ben Carroll said.

Victoria’s unemployment rate fell 0.2 percentage points to 4.5 %, well below the national average of 5 % and well down from the 6.7 % inherited from the previous Liberal/National Coalition Government.

Victoria now has the second lowest unemployment rate in Australia, just 0.1 percentage points behind New South Wales.

Victoria’s youth unemployment rate also dropped by 0.3 percentage points this month and is 1.2 percentage points lower than the same time this year.


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