JOBS GROWTH SHOWS JOBS BUILDING BUDGET WORKING

Posted on 12. Apr, 2010 in Victoria

From the Treasurer

Thursday, 08 April 2010

ABS statistics released today show 93,500 new Victorian jobs have been created since the Brumby Labor government started pumping $11.5 billion into job creating infrastructure on 1 July last year

Mr Lenders said the jobs growth and a record level of engineering construction showed the Brumby Labor Government’s plan to create 35,000 Victorian jobs this financial year was working to fight off the ongoing impact of the Global Financial Crisis.

“Victorians are concerned about the global economy which is why we are working to inject record amounts of investment into job-creating infrastructure,” Mr Lenders said.

“The Brumby Labor Government is providing strong leadership in tough global economic times to steer Victoria through and build for the future.”

Mr Lenders said that out of the 93,500 jobs created since 1 July, more than half – 57,700 – were full time jobs and Victoria had the highest full-time jobs growth of any Australian state.

“Since 1 July last year 64.7 per cent of all the full-time jobs created in Australia were Victorian jobs, showing that our plan to fight the ongoing effects of the Global Financial Crisis is working.”

Mr Lenders said the jobs growth was an embarrassment to Ted Baillieu and Kim Wells who said the state couldn’t create the promised 35,000 jobs, saying the budget was a “house of cards” and “Labor governments just simply cannot be trusted when it comes to promises on jobs.”

“We created 2.6 times as many jobs as we promised at budget time,” Mr Lenders said.

Mr Lenders said the government’s record of disciplined financial management had put the state in good position to fight off the worst of the Global Financial Crisis and create thousands of Victorian jobs.

“Our relatively strong budget means we can stand up for Victorian jobs by investing in projects like the Regional Rail Link, the Parkville Comprehensive Cancer Centre and local projects at schools right across the state from Mildura Primary to Mallacoota College,” Mr Lenders said.

Mr Lenders said while the number of jobs created was very welcome, the Brumby Labor Government would continue to work hard to reduce the state’s unemployment rate even though it was significantly lower than the state’s major trading partners and economies around the world.

He said since 1 July 2009 Victoria’s unemployment rate had fallen from 6.0 to 5.4 per cent.

Mr Lenders said the record level of engineering construction also released by the ABS today showed the impact of the Brumby Labor Government’s record investment in job-creating infrastructure.

“The level of engineering construction in Victoria rose a stunning 26.2 per cent over the past 12 months – well ahead of the national average of 3.5 per cent,” Mr Lenders said.

“This is a new record in engineering construction and translates into jobs for Victoria’s engineers, construction workers and tradespeople.”

Mr Lenders credited the Brumby Labor Government’s strong investments in the desalination plant, the Westgate-Monash Freeways and the Sugarloaf pipelines for driving the engineering construction figures.

He said the Victoria’s relative performance in construction activity were likely to decline in the future as they would be distorted by the massive $43 billion Gorgon gas project in Western Australia.

Unemployment rates of economies around the world:

Economy Unemployment rate
Victoria 5.4 %
New Zealand 7.3 %
Britain 7.8 %
Indonesia 8.1 %
Canada 8.3 %
China 9.6 %
United States 9.7 %
Euro area 9.9 %
India 10.7 %

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