Victoria’s employment growth leads the nation
General Portfolio Press Releases
Treasurer Michael O’Brien has welcomed today’s labour force figures as a vote of confidence in the Victorian economy, showing that Victoria continues to be a great place to invest and grow a business.
“Employment in Victoria rose by 11,400 in the past month and we led the nation in job creation. There are now more people employed in Victoria than ever before,” Mr O’Brien said.
“Today’s labour force figures show that the Victorian Coalition Government’s economic strategy is building for growth and demonstrates the strong fundamentals of the Victorian economy.”
Australian Bureau of Statistics (ABS) data saw Victoria’s unemployment rate falling to 5.4 per cent for May, down from 5.8 per cent the previous month.
Victoria’s unemployment rate is the lowest of any state, bar Western Australia. Victoria’s job growth in May was the highest of any state in the nation, noting that state employment figures are always subject to some degree of volatility in the data.
“Nationally, there was a modest increase of 1,100 jobs last month. Victoria’s contribution of 11,400 new jobs demonstrates that our state was the jobs engine room of Australia in May,” Mr O’Brien said.
Victoria is the only state to have an unemployment rate lower than one year ago, and there are 66,500 more people in jobs now than when the Coalition Government came to office.
“Today’s figures are a vote of confidence in Victoria and a vote of confidence in the Coalition Government’s decisive action to drive growth and productivity,” Mr O’Brien said.
“Today’s strong jobs result follows other recent positive signs for the Victorian economy including strong consumer confidence, increased lending approvals and the strongest increase in state final demand across the country.
“Today’s figures are good news for Victoria and highlight the fact that the Coalition Government’s economic strategy is driving growth and prosperity for all Victorians.”