The Tasmanian Government welcomes CommSec's July 2024 State of the States Report, which shows that our 2030 Strong Plan is delivering for Tasmania's jobs market and industry.
The latest CommSec report has Tasmania ranked second for our strong jobs market, second on construction work done, third on equipment investment, and the fastest wage growth in the nation.
The report also shows Tasmania ranking well on CommSec's model for annual economic growth, based on State Final Demand, ranking fourth at 5.2 per cent above the long term average, outperforming Queensland, Western Australia and New South Wales.
Treasurer Michael Ferguson said it is pleasing Tasmania has the second strongest jobs market in the nation with the record low unemployment rate of 3.8 per cent being 33 per cent below the decade average.
"Tasmania emerged from the pandemic stronger and faster than the rest of Australia, and it is clear that other states are now catching up," Treasurer Ferguson said.
"This report comes off the back of recent ABS data showing Tasmania has record low unemployment of 3.8 per cent.
"More than 49,300 jobs have been created for Tasmanians under this Liberal Government since we came to office in 2014.
"In addition, it follows the most recent NAB Monthly Business Survey, which shows that Tasmanian businesses are enjoying the best conditions and are the most confident in Australia.
"We know national economic headwinds are creating challenges across the country, but Tasmania has come a long way from the dark days of the last Labor-Green Government, which resulted in an economic recession, soaring unemployment and rock bottom business confidence."
Only the Government's Strong 2030 Plan for Tasmania's Future has the necessary ingredients to support Tasmania's businesses to invest, employ and grow.
