NSW has posted its lowest unemployment rate since current records began, falling 0.5 percentage points to 3.7 per cent in February as the State economy rebounds following the Omicron outbreak.
\u00a0
NSW recorded the lowest unemployment rate among the states and now sits well below the national unemployment rate of 4 per cent, according to the latest figures released by the Australian Bureau of Statistics today.
\u00a0
Treasurer Matt Kean said the Labour Force data highlighted the effectiveness of the NSW Government\u2019s targeted support of the State\u2019s economy throughout the pandemic.
\u00a0
\u201cThese record-breaking unemployment numbers are a direct result of the NSW Government\u2019s handling of the economy throughout successive COVID-19 waves, and our effective recovery strategy,\u201d Mr Kean said.
\u00a0
\u201cThe unemployment rate is at a record low, more people are re-entering the workforce and there\u2019s been a boost in hours worked across the State.\u201d
\u00a0
ABS data showed NSW\u2019s lowest unemployment figure since monthly records began in February 1978, with employment increasing by around 57,880 jobs and monthly hours worked rising by a strong 14.3 per cent in February.
\u00a0
The NSW employment results were driven by a rise in full-time employment (+38,002) and an increase in part-time employment (+19,879).
\u00a0
The NSW participation rate also rose by 0.5 percentage points to 65.4 per cent in February. Employment in NSW is now 87,100 above its pre-COVID level.
\u00a0
\u201cToday\u2019s results paint a picture of a resilient economy roaring back to life, with our high vaccination rates and agile businesses enabling us to bounce back better into a strong recovery phase,\u201d Mr Kean said.
\u00a0
\u201cIn the coming months I\u2019ll be outlining the further work we\u2019ll be doing to keep the economy strong through initiatives such as the Women\u2019s Economic Opportunities Review, our record infrastructure spending, our science and technology investment agenda, and keeping energy prices low through the Energy Infrastructure Roadmap.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
NSW has posted its lowest unemployment rate since current records began, falling 0.5 percentage points to 3.7 per cent in February as the State economy rebounds following the Omicron outbreak.\u00a0NSW recorded the lowest unemployment rate among the states and now sits well below the national unemployment rate of 4 per cent, according to the latest … Continue reading “NSW unemployment rate lowest on record as jobs rebound”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-15516","post","type-post","status-publish","format-standard","hentry","category-nswnews"],"_links":{"self":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/15516","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/comments?post=15516"}],"version-history":[{"count":1,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/15516\/revisions"}],"predecessor-version":[{"id":15517,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/15516\/revisions\/15517"}],"wp:attachment":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/media?parent=15516"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/categories?post=15516"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/tags?post=15516"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}