NSW number one (yet) again
As the year draws to a close, one state is the clear front-runner for the nation’s Most Valued Player award.
The state’s economy is Australia’s strongest; it’s in the midst of its longest construction boom in history, and after 17 consecutive months, it continues to have the lowest unemployment rate. The overachiever? NSW of course.
Our star NSW Nationals team has been working hard to deliver the best outcomes for our local communities – beginning with boosting the state’s bottom line.
Government initiatives including Jobs for NSW, a $190 million investment across the state, $57 million of which is dedicated solely to regional communities, have proved overwhelmingly successful in accelerating job growth and reducing unemployment.
Since the 2015 election, the NSW Government has created 135,800 jobs, accounting for more than half of all new jobs in Australia, and has the nation’s lowest youth and adult unemployment rate.
On top of this star performance, NSW is experiencing the longest housing construction boom in the state’s history. In the past three years, more than 200,000 houses have been approved – almost 80 per cent above the decade average, defying the national trend.
NSW has been leading the pack on key economic indicators for some time and is now experiencing its healthiest growth since the 2000 Sydney Olympics. It marks the first time in 25 years NSW has been number one amongst the other states and territories for overall economic growth with 3.5 per cent increase in Gross State Product (GSP).
Our state’s strong economic growth was supported by a lift in exports, with service exports such as education and tourism growing by 12.5 per cent in the last year alone.
For more information regarding NSW economic status, visit: http://www.treasury.nsw.gov.au/nsw_treasurer/treasurers_news.
For more information regarding Jobs for NSW initiatives, visit: http://www.industry.nsw.gov.au/invest-in-nsw/why-sydney-and-nsw/jobs-for-nsw.