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Friday, October 30, 2020

NSW Takes Gold Medal For Jobs Creation

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The best employment figures for NSW in more than a decade, have had a positive impact with people in tougher job segments finding it easier to get work. The latest ABS detailed labour force figures for NSW revealed the unemployment rate for the over-55s was just 3.5 per cent with 126,800 jobs added since the 2015 election.
Over the year to September, Western Sydney employment has increased by 49,600 people, with the unemployment rate sitting at a record low 4.9 per cent. In the same period, regional NSW employment (excluding Sydney, Newcastle and Illawarra but including the Central Coast) increased by 39,100 people, with the unemployment rate at 5.8 per cent.
The traditionally tough youth unemployment rate is now 10.2 per cent, down from 11.7 per cent in 2011 when the Liberals and Nationals Government came to office. This is the lowest of any state, and almost 2.6 percentage points lower than the rest of Australia at 12.8 per cent (national rate including NSW is 12.0 per cent).
NSW Treasurer Dominic Perrottet said NSW’s overall unemployment rate of 4.4 per cent was having a positive impact right across the NSW economy.
“The last time we saw an unemployment rate this low Usain Bolt was preparing to win his first gold medal at the Beijing Olympics, rather than trying out for a spot on the field with the Central Coast Mariners,” Mr Perrottet said.
“Usain may have struck gold in three Olympics since then, but our policies have struck gold by creating more 550,000 jobs since 2011.”
Mr Perrottet said creating youth and regional jobs was always challenging, but the once in a generation $4.1 billion Snowy Hydro sale would have huge flow on benefits.
“Labor have pledged to cancel many of the projects we fought so hard to implement. They are the party of chaos beholden to the unions and will kill jobs not create them.”

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