Unemployment falls in NSW

October 8, 2009

Premier Nathan Rees today welcomed the improvement in the State’s unemployment data – with NSW recording the second lowest unemployment rate in the country.

Figures released today by the Australian Bureau of Statistics reveal unemployment in NSW fell by 0.5 per cent - from 6.1 to 5.6 per cent.

Nationally the unemployment rate fell by 0.1 per cent to 5.7 per cent.

“While these figures are encouraging, there is more work to be done,” Mr Rees said.

NSW is now below the national average and below Queensland and Western Australia. It is also equal second with Victoria.

Mr Rees said the Federal and State stimulus measures including the NSW Government’s $62.9 billion infrastructure investment had helped to support jobs and investment in the State.

Mr Rees also used the opportunity to reiterate the Government’s commitment to stimulus measures.

“That is why we remain committed to our record $62.9 billion infrastructure stimulus package,” Mr Rees said.

“This is not the time to remove stimulus measures – as advocated by the NSW and Federal Oppositions.”

NSW Treasurer, Mr Eric Roozendaal said: “This is more good news for the NSW economy – the green shoots of recovery are starting to grow.

“The NSW Government’s $62.9 billion infrastructure stimulus package is absolutely the right way to go to keep our economy strong and support jobs.”

The NSW Government also had its Triple A credit rating taken off “negative outlook” by Standard and Poors after its highly successful 2009-2010 State budget.

In addition, the NSW Government continues to support jobs and business in NSW, including:

• US retail giant Costco is planning an expansion into NSW with its first warehouse at Auburn to support at least 200 jobs;
• JB Hi-Fi will open a further 17 new stores over three years, creating 765 jobs; and
• Bunnings will create more than 700 jobs in NSW and invest $148 million into the State economy with six new Bunnings
• Myer will open a further three new stores in NSW between now and 2013; and
• Macquarie University’s $1.7 billion commercial and education hub will support up to 4000 jobs.