Peter Gutwein,Premier
The economic impact that COVID-19 is having on the Australian and Tasmanian economy following swift measures taken to save lives is challenging and not unexpected.
The latest ABS data shows Tasmania's unemployment rate increasing to 6.2%, in line with the national rate.
Tomorrow I will release the May 2020 Tasmanian Economic and Fiscal Update report which will provide detailed information on the state of our economy and our budget.
Tasmania's economy, prior to the pandemic in March 2020 was the envy of the nation, leading across a raft of performance indicators. This included annual jobs growth, the highest in the nation and the fastest growing economy in the country.
As we look towards recovery, we must take safe steps and we must take sound steps.
* Because of the pandemic's sudden impact on jobs, the ABS has temporarily ceased publishing trend estimates, usually the most reliable indicator of labour force statistics. Accordingly, the figures reported above are seasonally adjusted to better estimate activity.
