REGIONAL NSW JOBS BOOM

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Friday, 24 May 2019

Regional NSW is experiencing an employment boom with nearly 15,000 added jobs over the past year according to the latest data from the ABS.

The four-year jobs target for the regions of 30,000 new jobs has been smashed with 95,600 jobs added since 2015.

The unemployment rate for Regional NSW is currently 5.2 per cent, a decrease of 0.5 per cent through the year.

NSW Treasurer Dominic Perrottet said the people of Regional NSW are the backbone of the state.

“The people and businesses in Regional NSW are a cornerstone of strength for the NSW economy,” Mr Perrottet said.

“We’ve seen a lot of jobs growth happening over the past five years and this is testament to the hard-working men and women in our regional areas.

“Our record $89.7 billion infrastructure spend is fuelling record low unemployment and making a real difference in every corner of the state.”

Minister for Jobs, Investment and Tourism Stuart Ayres said with almost 210,000 businesses across Regional NSW, it possessed the largest and most diverse regional economy in Australia.

“Our strong economic management is the foundation that gives regional small businesses the confidence to invest and create new jobs,” Mr Ayres said.

“This shows how resilient the Regional NSW economy is even with the drought biting hard many parts of the state.”

Regional NSW produces one-third of the total NSW gross state product and has an economy larger than South Australia’s total economy.

The participation rate for Regional NSW sits at 60.1 per cent through the year to April 2019, up 0.3 per cent.

NSW continues to lead the nation in job creation with an unemployment rate of 4.5 per cent the lowest among the states and well below the national unemployment rate of 5.2 per cent.