Victoria’s jobs growth is soaring as 10,000 jobs were created in March alone, with manufacturing dominating many roles in the state.
The Australian Bureau of Statistics latest data indicates that more than 123,000 people found employment in the year to March 2019 in Victoria – dropping the state’s unemployment rate to 4.6 per cent.
In just over four years, more than 461,000 people have found a job in Victoria – more than 70 per cent of them full-time.
Acting Minister for Jobs, Innovation and Trade Martin Foley told Manufacturer’s Monthly that manufacturing continues to be one of Victoria’s largest employers, supporting more than 271,000 jobs, with 85 per cent of these jobs consisting of full-time positions.
“In Victoria we employ more people in manufacturing than any other state and we have provided over $170 million to support the state’s manufacturing industry since December 2014 – creating more than 7,000 jobs and generating over $1.8 billion in private investment.”
In a statement, Minister for Jobs, Innovation and Trade Martin Pakula said the employment figures are great news for families right across the state.
“The [Victorian government] is leading the nation in creating jobs and we continue to show the way.”
Nationally the unemployment rate in the labour force has remained the same. Australian Bureau of Statistics Labour Statistics program manager Bjorn Jarvis has said in trend terms, the unemployment rate was at 5.0 per cent for five months and the participation rate held steady at 65.6 per cent.
This has not diminished the excitement in Victoria. A Victorian government spokesperson told Manufacturers’ Monthly that manufacturing is becoming even more critical to Victoria’s economic future with annual exports valued at $19.6 billion (2017-18).
“The industry is a major driver of innovation and productivity improvements, with Victoria leading the nation for business expenditure on research and development,” the spokesperson said.
According to LiveinMelbourne.com there are about 17, 000 people working as metal fabricators and 19,000 as metal machinist working in Victoria.
This gives a relative indication on how Victoria’s government investment into employment effects the manufacturing industry.