NSW powers ahead in job recovery

NSW is getting back to work with more than 14,500 people gaining full-time or part-time jobs last month, with figures released today showing the state’s unemployment rate dropping to 5.4 per cent.

Treasurer Dominic Perrottet said the NSW unemployment rate is 0.3 percentage points lower than last month and is the second lowest among the states after Western Australia.

“NSW is the engine room of Australia and we’re powering ahead with economic recovery,” Mr Perrottet said.

“Our state’s handling of COVID-19 clusters continues to be effective in balancing health and economic risks, and there’s no doubt we’re really seeing this pay off as more people re-enter the workforce.

“Challenges still lie ahead and we must remain focused, particularly as post JobKeeper numbers come through towards the middle of the year, but today’s numbers for March are a strong indication we have cause to be optimistic.”

Minister for Jobs Stuart Ayres said almost all jobs lost during the peak of the pandemic had now returned in NSW.

“In March we saw 7,226 people gain full-time employment and 7,421 people gain part-time employment, while just 1,435 fewer people are now employed in NSW, compared to pre-COVID,” Mr Ayres said.

“The state’s participation rate has risen above its pre-COVID levels, with a 0.1 percentage point increase this month to 65.7 per cent. We’ve also seen the female participation rate rise 0.5 percentage points to 61.3 per cent, a new record high.

“We remain cautiously optimistic of this improvement; however, we acknowledge with the ending of JobKeeper there may be some adjustment in job figures in the months ahead.”

“The NSW Government will continue to provide targeted support where possible, which includes our recent announcement of a $50 million tourism and arts package, designed to support the industries likely to be impacted the most by the end of JobKeeper.”

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