NSW Treasurer Mike Baird today said he was encouraged by the drop in the NSW unemployment rate, which is the second lowest in nation.

The latest ABS Labour Force figures released today show the NSW unemployment rate fell to 5.8 per cent from 5.9 per cent in the previous month.

“The NSW Government is encouraged that these latest figures show the state’s unemployment rate dropped in the last month,” said Mr Baird.
“While any loss of jobs is disappointing, we are encouraged that NSW has the second lowest unemployment rate of all the states, which is in line with the national average.

“Today’s figures are consistent with the economic outlook provided in our Budget update last month.

“There’s no doubt that ongoing national and global economic uncertainty is contributing to a softening of the national labour market.

“The NSW Liberals & Nationals Government has helped to create over 80,100 jobs since coming to office – the second highest number of jobs created after Western Australia. This follows a decade under the previous Labor government during which NSW had the lowest employment growth of any state.

“While the economic outlook remains uncertain, the NSW Government will continue with its strategy of investing in the key drivers of the NSW economy – jobs, housing and infrastructure.
“NSW small to medium enterprises reported the strongest employment expectations of any state and territory in last month’s Sensis Business Survey, which suggests stronger economic expectations for the start of 2014,” Mr Baird said.