Peter Gutwein,Premier
Nearly 12 months on from the day we implemented the toughest border restrictions in the country to keep Tasmanians safe, our economy has rebounded and we are getting on with securing Tasmania's future.
We introduced our $1 billion economic and social support package, and our landmark $5 billion infrastructure investment, which is delivering results.
Employment has returned to pre-pandemic levels. Back in May, Treasury was forecasting an unemployment rate of 12 ¼ per cent. Now we have the lowest unemployment rate of the states, below the national average at 5.9 per cent. And our youth unemployment rate is the third lowest of the states in year-average terms.
Our economy grew by 3.3 per cent in the December quarter, putting Tasmania as the second strongest growing State in the country, and our economy is now bigger than before the pandemic.
Our businesses are confident, hiring and investing. Business investment grew 8.2 per cent in the December quarter, and in February, job vacancies grew a nation-leading 13.3 per cent, nearly double national growth, to be 52.4 per cent higher than in February last year, before the pandemic.
The strength of our economic recovery has meant more money for Tasmanians to spend in local businesses, with retail trade 9.3 per cent higher than this time last year, and our merchandise exports were higher in 2020 than the year before, bucking the national trend.
These positive economic results are testament to the hard work of Tasmanians, and they are the result of our strong action to support Tasmanians through the pandemic, and help our economy recover.
But there is more work to be done, and today I am making public the Final Report of the Premiers' Economic Social Recovery Advisory Council and accepting all 52 recommendations, no matter how challenging they may be.
Tasmanians clearly articulated a vision for our future, and we will now continue to deliver our plan for securing Tasmania's future.
