❓ Mr. Krsticevic asks about the state of the job market and government support. The Treasurer responds positively, citing job creation statistics and infrastructure investment.
AnsweredQoN 503Legislative Assembly
QuestionView source ↗
STATE ECONOMY
503. Mr A. KRSTICEVIC to the Treasurer:
Can the Treasurer update the house
on how the job market is holding up and outline what the state government is
doing to support it?
503. Mr A. KRSTICEVIC to the Treasurer:
Can the Treasurer update the house
on how the job market is holding up and outline what the state government is
doing to support it?
AnswerView source ↗
I thank the member for the question because it gives me a
chance to talk about the latest labour force statistics, and they are quite
impressive. Last week the Australian Bureau of Statistics released the May 2015
labour force survey results, which show the strength of the Western Australian
economy and support the government's budget and fiscal position.
Despite the significant headwinds the state has faced, both because of
transition in the resource sector from the investment to the production phase,
and also the commodity price reductions in the last 12 months, this state has
created over 30 000 new jobs over the last 12 months. This equates to an average
annual growth of employment of 2.2 per cent, which is a good number. It
accounts for over 20 per cent of all new jobs created in Australia—double
our population growth. This employment growth has allowed Western Australia to
have the lowest rate of employment in the nation on a year-to-year basis, at
5.3 per cent.
This compares with 6.2 per cent
across the nation. I will not go on a month-by-month basis, but last month
unemployment in Western Australia was recorded at 5.1 per cent—that is
a tremendous number. Not only that, we have the highest participation rate in
the nation, at 68.6 per cent, compared with just under 25 per cent for the
nation. In short, we have the highest proportion of people wanting to work and
the highest proportion of people in work of any state in the nation. That
should quieten many commentators and members opposite, who are too quick to
write off the Western Australian economy and its job growth.
Several members interjected.
The
SPEAKER : Members!
Dr
M.D. NAHAN : The latest statistics indicate that we are doing well in terms
of both our policies and the many employers creating jobs in Western Australia.
However, we cannot rest on our laurels and that is why we have brought down,
and continued within the last budget, despite precipitous drops in revenue and
a deficit, our very large capital works program over the next four years at $24
billion. It is the right thing to do, both to build infrastructure for the
future and to underline job creation for now. Projects such as Perth Stadium,
Elizabeth Quay, Perth City Link, the Riverside project and the Gateway WA
project, which members opposite continue to knock, will create 26 000 jobs in
their construction life cycle and deliver essential infrastructure. I might add
that most of these jobs are local and the capital works program has a much
higher local content level than resource jobs in the past. All state
investments across Western Australia will create 96 000 jobs for Western Australians—that
is, 96 000 jobs created in the capital works program, which is rather
impressive—and spawn large amounts of private sector investments. The
legacy of this Liberal–National government is jobs and economic
security for today and infrastructure for tomorrow.
chance to talk about the latest labour force statistics, and they are quite
impressive. Last week the Australian Bureau of Statistics released the May 2015
labour force survey results, which show the strength of the Western Australian
economy and support the government's budget and fiscal position.
Despite the significant headwinds the state has faced, both because of
transition in the resource sector from the investment to the production phase,
and also the commodity price reductions in the last 12 months, this state has
created over 30 000 new jobs over the last 12 months. This equates to an average
annual growth of employment of 2.2 per cent, which is a good number. It
accounts for over 20 per cent of all new jobs created in Australia—double
our population growth. This employment growth has allowed Western Australia to
have the lowest rate of employment in the nation on a year-to-year basis, at
5.3 per cent.
This compares with 6.2 per cent
across the nation. I will not go on a month-by-month basis, but last month
unemployment in Western Australia was recorded at 5.1 per cent—that is
a tremendous number. Not only that, we have the highest participation rate in
the nation, at 68.6 per cent, compared with just under 25 per cent for the
nation. In short, we have the highest proportion of people wanting to work and
the highest proportion of people in work of any state in the nation. That
should quieten many commentators and members opposite, who are too quick to
write off the Western Australian economy and its job growth.
Several members interjected.
The
SPEAKER : Members!
Dr
M.D. NAHAN : The latest statistics indicate that we are doing well in terms
of both our policies and the many employers creating jobs in Western Australia.
However, we cannot rest on our laurels and that is why we have brought down,
and continued within the last budget, despite precipitous drops in revenue and
a deficit, our very large capital works program over the next four years at $24
billion. It is the right thing to do, both to build infrastructure for the
future and to underline job creation for now. Projects such as Perth Stadium,
Elizabeth Quay, Perth City Link, the Riverside project and the Gateway WA
project, which members opposite continue to knock, will create 26 000 jobs in
their construction life cycle and deliver essential infrastructure. I might add
that most of these jobs are local and the capital works program has a much
higher local content level than resource jobs in the past. All state
investments across Western Australia will create 96 000 jobs for Western Australians—that
is, 96 000 jobs created in the capital works program, which is rather
impressive—and spawn large amounts of private sector investments. The
legacy of this Liberal–National government is jobs and economic
security for today and infrastructure for tomorrow.
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