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Victoria has claimed a post-lockdown victory with promising employment numbers that place the state ahead of the rest of Australia.
The latest Australian Bureau of Statistics (ABS) figures, released on Thursday, 18th February, show that more than 43,000 people found jobs in the state in January which is more than anywhere else in the country.
The positive trend has continued from last year after 170,000 people managed to secure employment over a period of three months to December 2020.
Victoria’s job participation rate has since climbed to 66.7 per cent which is just below the all-time record of 66.8 per cent prior to the global coronavirus pandemic.
The return of Victorians to the jobs market and the improvement in employment numbers contributed significantly to Australia’s economic recovery, with the government saying the nation’s overall job growth would be negative were it not for the state’s progress.
Victoria’s job plan
The Andrews Labor Government committed more than $13 billion from the 2020-21 Victorian Budget to help support families and businesses during the COVID-19 pandemic.
The initiative includes a $619 million investment aimed at helping citizens most impacted by the pandemic, including women and young people who have work experience but no formal qualification.
$250 million will also be set aside to allow the government to subsidise the wages of at least 10,000 new workers through employer partnerships.
Treasurer Tim Pallas said in a statement on Thursday that the figures are further proof of Victoria’s recovery and that the government is well on its way to achieving its goal of creating 400,000 jobs by 2025.
“Every step of the way, we have supported Victorian businesses and backed Victorian jobs and in the four months to January more than 210,000 jobs have been created across our state,” Mr Pallas said.
“The Deloitte Access Economics Report indicated that Victoria’s economy is forecast to be the fastest growing in Australia in 2021 – today’s figures show we are again leading the way with jobs growth.”
The Deloitte report called Victoria’s recovery to date “remarkable” and said the state’s economy is expected to grow 5.3 per cent this year, which puts it ahead of both Queensland and NSW.
Read the full media release here.