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NSW unemployment hits five year low

The New South Wales unemployment rate has hit a five year low at 4.6%, more than a full percentage point below the next best state and almost a full percentage point below the nation as a whole.

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

Treasurer Dominic Perrottet said the total number of jobs created since April 2011 was now 410,800, above 400,000 for the first time and higher than any other state in the nation.

“We are the jobs capital of Australia, it’s boom time for NSW and our economy is on the move. This is the best place to live, work, learn and raise a family,” Mr Perrottet said.

“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.

“A stable job means the ability to pay the bills, provide for our families and plan for the future.

“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.

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