- Election commitment delivered with 125,000 jobs
target achieved two years ahead of schedule
- Achievement comes as WA reaches highest ever
level of employment of 1.542 million in April
- WA recorded nation-leading economic growth in
the March quarter of 2023, growing by 2.8 percent in year-ended terms
- WA weathers storm despite global inflationary
pressures and interest rate challenges
- Strong economic and financial growth gives State
capacity to invest in what matters
The Cook Labor Government has delivered on its
election commitment achieving its 125,000 new jobs target well ahead of
schedule.
Originally earmarked to be achieved by 2025-26, the
Cook Labor Government has met the target two years ahead of schedule as
reflected in today's Australian Bureau of Statistics labour force figures, with
133,532 jobs created since the target was set in 2021.
Western Australia's employment reached its
highest ever level of 1.542 million in April with the labour force figures revealing
the number of people employed in April had been revised up by 12,000.
Employment has increased solidly over the past 12
months, up 2.7 per cent, with the unemployment rate averaging 3.5 per cent,
which is very low by historical levels and the second lowest of all States.
Since Labor came to office in March 2017, there have
been more than 230,000 jobs added in WA.
WA's participation rate also remains the strongest of
all States averaging 69.2 per cent over the past year, a sign of the State's strong
economy and employment opportunities available.
The achievement of the jobs target follows recent
national economic data, which shows WA continued to have the strongest domestic
economic growth of any jurisdiction in the March quarter, growing by 2.8 per cent
in year-ended terms, despite global inflationary and interest rate pressures.
Updated ABS population data released today has also shown
a 0.6 percent (or 17,914 people) increase in WA's population in the December
quarter 2022, the strongest growth of all jurisdictions.
Comments attributed to Premier Roger Cook:
"In
2021 we took to the election an ambitious but achievable, affordable and responsible
WA Jobs Plan to position Western Australia as the best State in the nation with
a strong economy and a growing pipeline of jobs for Western Australians.
"I
am pleased we have delivered on this key election commitment ahead of the
2025-26 timeframe we set.
"The
latest Australian Bureau of Statistics on jobs data and economic figures
reinforces our plan is working and WA continues to be the powerhouse of the
Australian economy.
"We continue
to keep the State's economy and finances strong and stable which enables us to
invest in what matters to Western Australians.
"While
these positive results mean we've made significant inroads, there is more to do
and that is why we will continue to implement the WA Jobs Plan to diversify the
economy and deliver on more manufacturing jobs, training opportunities and
ensure Western Australians are put first when it comes to local jobs."
Comments attributed to Treasurer Rita
Saffioti:
"The latest round of national economic and
financial statistics reaffirms that Western Australia has the strongest economy
in the country.
"It is
worth acknowledging that this strong economic performance is in spite of the
significant global inflationary pressures, and the steepest increase in
interest rates by the Reserve Bank in its history - with 12 rate rises in just
over a year.
"Western
Australia's economic resilience is a testament to the hard work of WA
businesses and workers, and the Government will continue to prioritise keeping
Western Australia's economy strong and local jobs for Western Australians."
