Regional Victoria leads the states in jobs growth and has the lowest unemployment rate, despite a softening national economy.
The Australian Bureau of Statistics confirmed 20,000 people found work regional Victoria in the three months to November 2019, including 8,400 new jobs in Ballarat, 4,300 in Geelong and 2,600 new jobs in Hume.
Regional Victoria’s unemployment rate remains at 3.7 per cent – the lowest recorded in the nation and well below the Australian average regional unemployment rate which sits at 5.1 per cent.
Despite weakening national economic conditions and falling consumer confidence, the Victorian Government’s strong economic management and investment in the roads and rail, healthcare and education regional Victoria needs continues to boost jobs and business activity across the state.
Since the Victorian Government was first elected in November 2014, regional Victoria’s unemployment rate has decreased by 2.9 percentage points.
More than 71,000 people have found jobs in regional Victoria since then – an increase of 10.9 per cent – the second highest percentage increase among the states.
The Victorian Government is supporting regional businesses by further reducing the regional payroll tax rate, with the regional payroll tax rate to be slashed to just a quarter of the metropolitan rate by 2022/23 – creating more new jobs and generating economic growth.
Source: Vic Government