Victoria’s economy continues to perform strongly – recording the highest annual jobs growth of all the states – and creating nearly half a million jobs for Victorians since the Andrews Labor Government was first elected.
Australian Bureau of Statistics (ABS) data released today shows more than 136,000 people found a job in Victoria in the year to February – more than anywhere else in the nation – contributing nearly half of all the nation’s jobs growth for the year.
Nationally, employment growth increased by 284,100 jobs during the same period.
Since November 2014 when the Andrews Labor Government was first elected, Victoria has created a total of 450,000 jobs – more than 70 per cent of them full-time. That’s more jobs growth than anywhere in the nation during the same period.
Victoria’s unemployment rate of 4.8 per cent also remains below the national average.
Today’s ABS data also confirmed Victoria’s youth unemployment rate fell by 2.3 percentage points over the year to February – now at its lowest rate in almost 10 years.
Victoria’s impressive employment results have more than kept pace with population growth – with employment growth above population growth in each of the past four financial years.
As noted by Treasurer Tim Pallas
“Our massive investment in the schools, transport and hospitals that Victorians need is not only helping future-proof our state, it’s boosting jobs as well.”
“People continue to choose Victoria as their home, find a job in their local community and our state grows stronger as a result.”
As noted by Minister for Jobs, Innovation and Trade Martin Pakula
“Yet again, Victoria is showing the rest of the country how it’s done – big projects mean more jobs for Victorians.”
“Since 2014 we’ve created 450,000 jobs – 70 per cent of them full time – more than anywhere else in the nation.”