ABS figures released today show that in October 2025, Victoria's unemployment rate was 4.7 per cent, higher than Queensland at 4.2 per cent, New South Wales at 4.3 per cent and the national rate of 4.3 per cent.
Victoria's underemployment rate, the share of workers who want and are available to work more hours, remains elevated at 6.2 per cent and sits above the national average.
Today's data follows the Business Council of Australia's latest Regulation Rumble Report, which ranked Victoria as the worst state in Australia for business because of high taxes and onerous regulation.
After a decade of financial mismanagement, Victoria's net debt continues to grow by more than $2 million an hour and is forecast to exceed $194 billion by 2028 to 29.
Shadow Treasurer, Jess Wilson, said: "Month, after month, after month under Labor, Victoria's unemployment rate remains stubbornly higher than comparable interstate economies and the national average.
"Victoria's high unemployment rate is a direct consequence of Labor's ever-increasing taxes and burdensome red tape that continues to stifle economic growth and opportunity.
"It's time for a fresh start - only a future Liberal and Nationals Government will begin to restore Victoria's reputation as an attractive investment destination by cutting taxes and restoring proper financial management."
