New data shows WA enjoys lowest unemployment rate since 2008
The Western Australian government has recently announced a historic downward trend of its unemployment rate, landing at 2.9 percent last month. It is reportedly the lowest that the state has had since October of 2008.
Impressively referred to as the “best in the nation,” the WA government pointed out that no other state has achieved an unemployment rate below three percent since current records began.
“[Our] unemployment rate is well below the national rate of 3.9 percent. No other State has ever achieved an unemployment rate below three percent since February 1978,” WA’s Premier and Treasurer Mark McGowan said in a media release.
The state has also enjoyed the growth of its full-time workforce, hitting another historical mark of over one million Western Australians, and an added extra of 19,000 full-time jobs last month.
The youth workforce performed strong as well, with its unemployment rate at 6.3 percent, lower than the national rate of 8.9 percent.
The state government credited its record-breaking numbers to its efficient pandemic response, together with a “stable and responsible” budget management.
“Our strong economy is delivering for Western Australians,” McGowan said, recalling how the state enforced strict and heavy measures at the height of the pandemic.
"It has secured a soft landing, as planned, as WA has transitioned to living with COVID-19," he said.
The state has also taken pride in its aggregate hours worked, an indicator of overall economic activity. WA registered a rise of 1.8 percent and recorded 204.3 million hours in April.
According to the report, WA's participation rate has also remained “by far the strongest of the states” at 69.3 percent in April, higher than the national participation rate of 66.3 percent.
