Australian Bureau of Statistics data released today shows that the number of jobs in Western Australia now exceeds pre-COVID levels, another sign WA’s economy is roaring back to life.
The data for the week ending November 28 showed the number of people in jobs was up 0.7 per cent compared to the week ending March 14, 2020, and the number of jobs in WA increased 0.4 per cent in the fortnight ending November 28.
WA is the only State where the number of jobs gained now exceeds those lost due to the pandemic. Since the height of restrictions in April, 108 per cent of jobs lost have been recovered, which is the highest proportion of jobs recovered in the nation.
Nationally, the number of jobs is still 2 per cent lower than pre-COVID levels, with Victoria 4.3 per cent lower and New South Wales down 1.7 per cent.
Importantly, after women were disproportionately impacted by job losses due to COVID-19, the number of jobs for women is now 0.9 per cent higher than in mid-March. Furthermore, WA is the only State to have managed a complete recovery in the number of jobs performed by women.
The payroll data highlights that WA is well and truly on track to meet Treasury’s forecast of 1 per cent employment growth this year as forecast in the 2020-21 Mid-year Review.
WA’s economy is forecast to experience the strongest in employment and economic growth this year, while most other economies are expected to contract.
The jobs data also aligns with job vacancy data from the Department of Education, Skills and Employment, which were at the highest level in WA in almost 8 years, with almost 19,300 advertised vacancies in October.
The payroll jobs data is based on Australian Taxation Office payroll information collected from businesses and bodes well for the ABS Labour Force survey for November to be released on Thursday.
As stated by Treasurer Ben Wyatt:
“The ABS payroll jobs data released today is further evidence of our economy roaring back to life.
“It highlights the fact that WA’s economic recovery is leading the nation, with employment and economic growth predicted to be the strongest of States this year, while most other State economies contract.
“The McGowan Government’s efforts to keep Western Australians safe and our economy strong has given businesses the confidence to invest and hire more workers.”