Ministers Statement: Economy
Mr PALLAS (Treasurer) — I feel a bit like Glen Campbell — everybody is talking about me!
I rise to update the house on the new achievements of the Andrews Labor government in growing jobs and securing economic prosperity for Victorians. Data released last week by the Australian Bureau of Statistics shows that the government’s prescription for the Victorian economy is working, with state final demand growing by 3.2 per cent in the last year.
An honourable member — How much?
Mr PALLAS — 3.2 per cent. This comes hot on the heels of the continued bounty of good news that we see in the jobs market. Victoria’s regional unemployment rate is now 6.1 per cent, below the national average and well below the 6.6 per cent that we inherited from the former government. Since November 2014, however, total employment in regional Victoria has increased by 24 900 jobs, and full-time employment has increased by 12 400 people. It is a bounty of growth that is being shared right across the state. Five of the eight regions have seen their unemployment rates drop since November 2014. Shepparton’s unemployment rate — no doubt due to the great member that the region has — is down from 7.8 per cent to 3.5 per cent. The rate in north-west Victoria is down from 5.3 per cent to 4.5 per cent.
These results speak for themselves, but they also speak of the ineptitude and the four years of wasted opportunity of those opposite. When they were in government only 5500 regional jobs were created in total. They were brimful of self-praise, but for four years they failed to show any leadership, planning or vision for the state. The Andrews government has made a decisive effort to ensure that the benefits of our growth are spread right across this community.