NSW created the most jobs in Australia and experienced a significant drop in its unemployment rate last month, according to the latest ABS Labour Force figures.
The figures show NSW gained 16,300 jobs in March, as the unemployment rate dropped from a revised 5.7% (previously 5.8%) to 5.3%. This is the second lowest unemployment rate in the nation after Western Australia, and is well below the national average.
NSW Treasurer Mike Baird said the state was back at the top of the leader board, contributing 16,300 of the 18,100 new jobs created nationally.
“At the same time, our unemployment rate has fallen significantly this month to be now 0.5% below the national average, delivering more good news for the people of NSW,” he said.
Mr Baird said the positive job figures followed strong results for NSW earlier this week where the state’s consumers and businesses were found to be the most confident in Australia.
“NSW recorded a positive reading for the eighth consecutive month in the latest NAB monthly business survey – the highest among the states and above its decade average,” he said.
The NSW economy is also performing better than other Australian states on a number of measures such as economic growth; retail and housing.