Victoria’s regional unemployment rate has dropped to a near record low, with Australian Bureau of Statistics (ABS) figures released today showing that more than 3,900 Victorians found work in regional Victoria last month, continuing a sustained run of growth.
“Jobs are growing across the state and it means workers and businesses can feel confident about the future,” said Victorian Treasurer, Tim Pallas.
“A strong economy means businesses are able to plan for expansion and to employ more people, and families have security and certainty.”
The regional unemployment rate dropped to 3.1%, while the statewide employment level of 3,627,800 reported last week is a record high, the Treasurer said.
The Geelong region has more than 190,000 people in work, while in Gippsland, some 40,000 jobs have been added since the Labor Government has been in office, he said.
In Hume, with 104,600 people in work, the unemployment rate dropped by 0.7 percentage points, to just 2%. In the North-West, the unemployment rate is exactly half of what it was nine years ago and jobs have grown by more than 10,000.
Since the depth of the pandemic economic crisis in September 2020, almost 480,000 new jobs have been created across Victoria, eclipsing every other state’s performance on the back of the Government’s steadfast backing of workers and industry, said Mr Pallas.
“In the March quarter, Victoria’s state final demand, a key performance indicator, grew by 0.7%, driven by increased investments from business and public sectors, and household spending,” he said.
The ABS this month reported Victoria’s population grew by 39,700 in the December quarter – the highest increase of all the states.