NSW Records Lowest Unemployment Rate In The Nation

NSW has overtaken Western Australia to have the lowest unemployment rate in the nation.

Treasurer Andrew Constance said the ABS figures released today show the NSW unemployment rate decreased to 5.9 per cent in December to be the lowest of all the States.

“This is an outstanding result that confirms NSW as the number one State economy,” Mr Constance said.

“In Labor’s last term of government, the NSW unemployment rate was below the national average on seven occasions. Since the 2011 election, it’s been below the national average 32 times.

“Under Labor, NSW was ranked 8th in the CommSec State of the States report, we had below average economic growth, poor consumer and business confidence and low housing approvals.

“The NSW Liberals & Nationals have turned this State around. We’re back at number one, creating 145,200 jobs since April 2011 off the back of our investments in the key drivers of the economy.

“Housing starts are at their highest levels in over a decade, with construction beginning on 13,677 new homes in the September quarter – the highest number since December 1994.”

The December 2014 unemployment rates from the ABS are below:

State/Territory

Unemployment rate (%) December 2014

New South Wales

5.9

Victoria

6.5

Queensland

6.1

South Australia

6.5

Western Australia

6.0

Tasmania

6.7

Australia

6.1

Mr Constance said NSW is powering ahead on a range of other economic indicators.

“Our retail trade figures are incredibly strong, businesses have the confidence to build and expand in NSW, we’ve balanced the Budget and our triple-A credit rating is secure,” Mr Constance said.

“But we know this will all be put at risk under Labor who have learned nothing in four years. They are as big a risk as ever – a risk to jobs, a risk to services and a risk to getting the infrastructure NSW needs and deserves.”