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POWERING NSW ECONOMY DRIVES JOBS GROWTH

19 Jul 2018 12:00 PM | Lisa McPherson (Administrator)

(NSW Business Chamber Media Release)

Latest jobs data out today highlights the strong performance of the NSW economy and reinforces the state’s standing as Australia’s number one performing economy, according to the state’s peak business organisation, the NSW Business Chamber.

The NSW economy recorded strong job gains with more than 27,000 new positions created in June, according to data released today by the Australian Bureau of Statistics. This brings the total to 150,434 jobs created over the year with NSW accounting for 44 per cent of the 339,000 jobs created nationally.

“That’s almost 1,000 new jobs created each day last month, a consequence of booming construction activity and a positive economic plan encouraging business growth across the state,” said Mid North Coast NSW Business Chamber Regional Manager, Kellon Beard.

The ABS figures confirm unemployment in NSW fell to 4.7 per cent.

“These figures show businesses want to invest, and that they are upbeat about the future and the broader economic outlook. Going forward, the lift in the payroll tax threshold will provide even more support to smaller businesses looking to hire,” said Mr Beard.

The NSW economy is transitioning from the residential construction boom and the focus for Government now needs to be on the next wave of public and economic infrastructure.

“It’s very important that regional NSW shares in the economic benefits of the state. That is why we need to see the proceeds from the sale of the Snowy Hydro invested as soon as possible as this will ensure that NSW stays Number 1.”

The Snowy Hydro Fund should deliver long term economic development for regional NSW and provide essential infrastructure to help address issues such as drought mitigation and improved transport connectivity”.

“To keep NSW as the number one performing state in Australia we need a concerted effort to reduce operating costs for business, deliver critical skills training, (particularly for young job seekers) and fast track the delivery of infrastructure that will provide long term economic and community benefit,” said Mr Beard.

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Po Box 270, WAUCHOPE NSW 2446  |  wauchopechamber@gmail.com  |  www.visitwauchope.com.au

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