17 March 2016
Strong economic growth in Victoria is creating an employment surge that is bucking the national trend.
Victorian jobs grew by 30,300, according to the Australian Bureau of Statistics - the only state to record a rise in employment during February. Victoria’s youth unemployment rate also fell in February and is now 1.0 percentage point lower than a year ago.
Victoria’s unemployment rate in February was 6.0 per cent, down from 6.3 per cent last month despite a 0.4 percentage points rise in the participation rate.
Both part-time employment and full-time employment increased by 18, 900 persons (2.0 per cent) and 11 400 persons (0.6 per cent) respectively. The latest ABS statistics confirm Victoria’s strong, ongoing economic growth has translated into job creation. Since November 2014, employment has increased by 100,700 people, with full time employment up by 52,900 people.
The strong jobs growth is consistent with the ABS National Accounts figures released last month, which showed that Victoria’s State Final Demand for 2015 was the highest in the country.
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