Victoria was the only state in the nation to add new regional jobs last month, showing the Allan Labor Government’s economic strategy is working and creating opportunities for Victorians.
The Australian Bureau of Statistics (ABS) reported today that 1,500 regional Victorians secured jobs in August, an increase of 15,000 over the past year – pushing total regional employment to more than 800,000 jobs.
More than 150,000 new jobs have been created in regional Victoria since the Labor Government was elected in 2014 – a 22.9 per cent jump – the highest growth of any state.
Over the same period, total state-wide employment has grown by more than 862,000 jobs, with the number of Victorians employed now at a record 3.78 million.
Regional Victoria’s unemployment rate is a low 3.8 per cent, a notable decrease from the 6.6 per cent rate left behind by the previous Liberal ³Ô¹ÏÍøÕ¾ Government.
The Labor Government has supported economic growth through investment and trade – with Victorian business investment up by 6 per cent in 2023/24.
Victoria leads the nation in export growth, with exports increasing by more than $2 billion over the past year and surging by nearly a third since 2015 – up by 13.2 per cent over the past year alone, the highest among all states.
The state’s economy is estimated to be almost 11 per cent bigger in real terms than pre-pandemic levels, and Deloitte Access Economics predicts Victoria’s economic growth will lead the nation over the next five years.
Victoria’s state final demand, which measures the economy by combining both public and private investment and spending, is more than 14 per cent higher compared to pre-pandemic levels.
As stated by Treasurer Tim Pallas
“We were the only state to add new regional jobs last month, showing that our economic strategy is working and creating more jobs for Victorians across the state.”
“Victoria is leading the nation in regional jobs growth, and this means more opportunities for our regions and towns as we continue to grow our economy.”
