Monday 21 October 2013
STATE OF THE STATES: NSW STILL NUMBER ONE ON JOBS, PROMISING SIGNS FOR HOUSING SECTOR
NSW Treasurer Mike Baird today said NSW’s jobs market continues to be a standout in the CommSec State of the States report, as the state received the top ranking for its low unemployment rate for the second quarter in a row.
The latest report shows NSW has also moved up one place on the retail measure since the previous quarter and has maintained its overall position – ranking fourth among the states and territories.
“It’s not surprising that today’s report confirms the relative strength of NSW’s jobs market,” said Mr Baird.
“Recent Labour force figures revealed that our unemployment rate has been at or below the national average for 11 of the past 12 months so NSW is clearly the standout against the other states.
“This is a huge achievement given the decade lows our state experienced under NSW Labor, where NSW consistently lagged the other states, and unemployment was significantly higher.
“While we still have much work to do on the measure of economic growth, I note that CommSec has acknowledged that if State Final Demand figures were used, this would boost NSW’s ranking by two places to fifth position.
Mr Baird said the report also showed promising signs for the NSW housing sector.
“CommSec noted that NSW is expected to be one of the states to benefit the most from a lift in home building, which will further stimulate our economy.”
“The NSW Government will continue to pursue policies that encourage jobs growth and economic activity across the state. Our Jobs Action Plan, the government’s large-scale infrastructure program, and the growing level of housing construction across the state will do exactly that.
“We are confident that these initiatives, together with the low interest rates we are experiencing, will further boost NSW’s position against its counterparts,” Mr Baird said.