Employment growth positive news for Victoria

Australia has been posting low unemployment figures in comparison to other industrialised nations in recent months, but those numbers may not always transfer to all residents.

For example, the resource sector has experienced unprecedented growth and has seen the creation of many mining jobs, but other industries may not be faring so well in this global economic climate.

However, recent data has showed that even non-mining areas like Victoria have shown significant improvement in the last few months.

State treasurer Kim Wells reported that the Australian Bureau of Statistics posted 13,500 new jobs in Victoria for the month of May and attributed the growth to the state's resilience.

"Victorian employment has now increased by 49,000 jobs in the past three months," Mr
Wells said.

"Of the 38,900 jobs created nationally during May, 34.8 per cent or 13,500 of them were
created in Victoria.

"Victoria's participation rate increased for the third consecutive month, rising by 0.3 percentage points in May to 65.8 per cent."

Those considering a property purchase in Victoria may be encouraged by the stabilising employment situation and economic growth prospects.