More than 75,000 jobs have been added to the NSW economy over the past month with the state’s unemployment rate dropping from 5.5 per cent to 5.0 per cent according to the latest data.
The ABS figures showed the national unemployment rate is now at 5.1 per cent.
Treasurer Dominic Perrottet said the numbers demonstrated the strength of the economic recovery in New South Wales just a year after the state and the nation plunged into its first recession in three decades.
“Our state is powering the nation with almost two thirds of jobs added across the nation over the past month in New South Wales,” Mr Perrottet said.
“After the unemployment rate in NSW spiked at just over 7 per cent last year, we have not only recovered the 270,000 jobs lost during the initial impact from COVID-19, we have an additional 36,000 more employed people in the state.
“This is proof of NSW getting back to work and that the end of JobKeeper did not significantly impact employment opportunities.”
Minister for Jobs, Investment, Tourism and Western Sydney Stuart Ayres said the Government would continue to focus on creating opportunities and jobs.
“The economic rebound keeps going from strength to strength. While more jobs are being created there are still plenty of job vacancies out there for people wanting to get back into work,” Mr Ayres said.
“The government has backed in business hard over the last 18 months and these figures show our strategy has worked.”
The news comes with business conditions reaching a record high last month and consumer sentiment remaining well above its decade average.