New South Wales remains the jobs capital of Australia with ABS figures released today showing we have the lowest unemployment rate of any state at just 4.4 per cent.
NSW added 12,963 jobs in July with the participation rate in NSW at 65.9 per cent, while the NSW unemployment rate fell 0.2 percentage points.
NSW remains well below the national unemployment rate of 5.2 per cent and is lower than our neighbour states of Victoria 4.8 per cent, Queensland 6.4 per cent, and South Australia 6.9 per cent.
Treasurer Dominic Perrottet said the figures reflected the Government’s commitment to boosting employment and opportunity.
“The Government’s record $93 billion infrastructure program is doing the heavy lifting, with total public investment expected to contribute around ½ a percentage point to the State’s growth and support around 100,000 jobs in 2019-20 and 2020-21,” Mr Perrottet said.
“NSW has a strong economy and the latest jobs figures continue to reflect the benefits to our willingness to recycle assets and build the schools, hospitals, roads and new rail lines the state needs.”
Mr Perrottet said Reserve Bank Governor Philip Lowe had recently commented on the benefits to the economy of increased spending on infrastructure.
“NSW is the clear leader in Australia on building infrastructure, we are billions of dollars ahead of other states, and the benefits are clear when you look at how we are performing even in a time when there are economic challenges right across the world,” Mr Perrottet said.
“NSW has a reputation for being a world leader in asset recycling – we are ensuring the State’s balance sheet is working for the people of NSW in the most productive and beneficial ways possible.
“In contrast as we saw during both the NSW and Federal election campaigns earlier this year Labor’s only plan was to cancel projects and raise taxes.”