Nation-leading jobs growth has driven Victoria’s unemployment rate down to 4.5 per cent – the lowest it’s been in more than seven years.
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 Labor Government was elected – the vast majority of them full-time.
Victoria’s unemployment rate fell 0.2 percentage points to 4.5 per cent, well below the national average of 5 per cent and well down from the 6.7 per cent inherited from the previous Liberal and National 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.
As noted by Treasurer Tim Pallas
“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.”
“Every new job gives another Victorian a chance to contribute to their family, their community, to our growing state.”
“The continued strong jobs growth is testament to our record infrastructure pipeline, to our unprecedented investment in skills and training, and to our commitment to reducing red tape.”
As noted by the Minister for Industry and Employment Ben Carroll
“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.”