QUEENSLAND’S UNEMPLOYMENT RATE STEADY AT TWO-YEAR LOW

Queensland’s unemployment rate has remained steady at a two-year low as the Palaszczuk Government’s Economic Plan continues to deliver jobs, Treasurer Curtis Pitt said today. 

Mr Pitt said Australian Bureau of Statistics figures for March showed the trend unemployment rate was 6.0 per cent in March compared with the revised trend figure of 6.0 per cent in February. 

“The government will continue to work hard to boost business confidence, attract investment, and partner with business and industry to deliver new job-creating projects and infrastructure,” he said. 

“The latest trend figures compares with an unemployment rate of 6.6 percent at the time of the State Election. 

“The seasonally adjusted figures continue to show the volatility of that data set which has been acknowledged by the ABS itself. 

“Based on the ABS’s revised figures for March, the statistics released today mean 61,300 new jobs have been created under this Government. 

“That’s 1,960 full-time jobs every month – compared to the 360 full-time jobs lost every month under the previous Government. 

“It shows our Economic Plan is getting Queenslanders back to work. 

“Every one of those new jobs is a Queenslander starting their first job, or getting back after a long search, or a family getting a second income. 

“It means Queenslanders are more confident about the future – and more willing to spend with Queensland businesses.” 

Today’s unemployment figures are the latest in a strong of positive reports on the Queensland economy: 

·         This week’s National Australia Bank’s monthly business survey showed Queensland’s business confidence remained the highest of any mainland state for the ninth month in a row. 

·         Yesterday the Westpac-Melbourne Institute Consumer Sentiment Index showed a rise in Queensland. 

·         ABS figures this week showed the number of Queenslanders securing finance approval for buying their own home has increased for the sixth month in a row. 

“There is clearly more confidence in the strength of the Queensland economy and the figures prove this,” Mr Pitt said. 

“More confidence means more investment and more jobs. 

“More confidence helps our economy grow – and it’s forecast to grow faster than any other State for this and the next financial year.”