According to the latest data from the Australian Bureau of Statistics (ABS), NSW is leading the nation in job growth. Stephanie Stefanovic reports.
NSW Treasurer Gladys Berejiklian said the ABS data showed that there were over 29 500 NSW jobs added in July. This is is four times higher than the next-highest state.
“This incredibly strong result accounts for more than three quarters of the jobs added across Australia and confirms we are truly the nation’s strongest economy,” said Ms Berejiklian.
“Looking at job ads posted in July, we have seen an increase in new job ads being posted in government, public services and financial services sectors. These are all indicators suggesting the jobs market will continue to perform well in the coming months,” said Steve Shepherd, employment market analyst at Randstad.
The market analyst also revealed that positions currently in demand include sales and information communications and technology (ICT) roles.
“Additionally, New South Wales continues to have a strong pipeline of infrastructure and residential projects, which is a good provider of jobs in the state and will lead to other roles being required in the future, such as finishing trades and services positions in commercial buildings.”
The state now has the lowest unemployment rate in Australia and its labour force participation rate is equal to its all-time historical high of 64.1 per cent.
This is the latest in a string of good economic news for NSW, including news that the state has been experiencing the highest retail trade growth of any other state, as well as news that building approvals have reached 20-year highs.
It also follows results from CommSec’s most recent State of the States report that have confirmed the state’s position as the nation’s strongest-performing economy.