Regional unemployment rate falls to record low

Victoria has achieved a record low unemployment rate in regional areas as more than 7000 new regional jobs were added across the state in December.

Australian Bureau of Statistics (ABS) figures show that Victoria’s strong economy is continuing to grow jobs in towns and cities and on farms as the regional unemployment rate fell to 2.8 per cent – the lowest in the country.

Latrobe-Gippsland and Geelong recorded the biggest jumps in employment in December – with thousands of new jobs being created in each region.

Victoria also leads the nation with the lowest regional youth unemployment rate of 6 per cent – 1.4 percentage points lower than the next closest state, New South Wales.

Victoria’s overall unemployment rate sits at a historically low 3.5 per cent.

More than 370,000 new jobs have been created In Victoria since the height of the pandemic economic shock in September 2020, the largest increase of all the states over the same period.