NSW unemployment rate below national average for 10 successive months

Published 9th October, 2014 in Economy

The NSW unemployment rate has been below the 6.1% national average for 10 straight months.

Busy Sydney CBD street
Busy Sydney CBD street

Acting Treasurer Dominic Perrottet confirmed the current unemployment rate in NSW at 5.8%, up from 5.6%. Despite the moderate increase in unemployment, Mr Perrottet said NSW “continues to outperform our neighbours north and south of the border”.

“I’m delighted to report that the NSW unemployment rate has been below the national average for 10 consecutive months, and since 2011, the NSW Government has created 128,600 jobs”, Mr Perrottet said.

The acting Treasurer also confirmed that 9,800 new jobs were created in September, with the State’s labour force participation rate maintaining a steady 62.9%.

Labour force participation rates are defined as the labour force (people either employed or unemployed), as a % of the population.

Mr Perrottet said the figures show that NSW remains in a prime position to benefit from the nation’s transition away from mining.

Image credit: Troy Wegman / Shutterstock.com

Published 9th October, 2014 in Economy