NSW unemployment hits five-year low

unemployment

Unemployment has hit a five-year low in NSW, dropping to 4.6% – more than a full percentage point below the next best state and almost a full percentage point below the national average.

The latest figures from the ABS show 21,100 new jobs were added in September, about 2.5 times more than Victoria, the next closest state.

Treasurer Dominic Perrottet said the total number of jobs created since April 2011 was now 410,800, which is higher than any other state in the nation.

“The last time the NSW unemployment rate was this low was in August 2012, and it’s a credit to the hard working people of our state,” Perrottet said.

“A stable job means the ability to pay the bills, provide for our families and meet our home loan repayments.

“This result is a consequence of the government’s strong economic management, creating the conditions for businesses and jobs to flourish.

“The state’s strong economic performance and infrastructure boom is providing huge opportunities for companies now and into the future.

Since the April 2015, more than 220,100 jobs have been created, far exceeding our election commitment to create 150,000 in this term of government.

“NSW leads the country in creating full-time jobs. 75% of new jobs in NSW were full time, compared to 39% in the rest of Australia. NSW added 52% of the nation’s full-time jobs in that time. Youth unemployment in NSW also remains the nation’s lowest.”