Victoria’s unemployment rate falls

The Member for Melton, Don Nardella MLA has welcomed news from the state Treasurer, Tim Pallas, that Victoria’s unemployment has dropped.

Mr Nardella said:

ABS Labour Force data released yesterday showed that Victoria’s unemployment rate has fallen to 5.6% – and is now below the national rate of 5.9%.

Over the month of October, Victoria experienced the strongest employment growth of all states, with 26,100 jobs created. This was driven by both full time and part time employment, which grew by 10,800 and 15,300 persons respectively.

Indeed, under the Andrews Labor Government, Victoria’s employment has grown by 73,340 persons.

This positive news comes on the back of strong consumer sentiment data released yesterday, as well as recent data showing increased retail spending, strong business investment, and increased exports, all reinforced by Victoria having the highest population growth of any state.