Proof our economy is rebuilding and our plan is working

Peter Gutwein,Premier & Treasurer

There’s more irrefutable proof that our economy is rebuilding and our plan to bolster confidence and support jobs is working.

The Sensis Business Index released today found that Tasmania is the most confident jurisdiction with 69 per cent of businesses extremely or fairly confident about our future, and that confidence has grown over the three months to November.

Crucially, Sensis also found that we have the highest proportion of businesses that have recovered following COVID-19, or are now ‘well ahead’ and that our businesses are the least pessimistic about our economy in the country.

Confident businesses invest and hire more Tasmanians. The latest ABS data released today shows that over the last two weeks of November, Tasmania recorded the highest growth in payroll jobs of all states and territories, growing 1.1 per cent. Our State also recorded the highest wages growth in the nation during the same fortnight.

Added to that, during the entire month of November, payroll jobs grew 1.8 per cent – again the highest growth in the nation. Importantly, jobs have grown across all age demographics and across both men and women.

The most important thing is that we are seeing positive movement since March – our economy is growing, we’re getting people back to work and we’re back in business.

Today’s results follow news that Tasmania was one of just two states to grow in the 2019-20 financial year, and in the September quarter Tasmania returned to growth following the pandemic, and comes after a string of economic reports, including by NAB, ANZ and CommSec which confirm that our economic performance is nation-leading, and we have the best conditions for business.

Our plan to rebuild a stronger Tasmania is about jobs, confidence and investing in our community and it’s working. No amount of negative commentary or unfounded criticism from those on the sidelines will convince Tasmanians otherwise.

With the steps the Tasmanian Liberal Government has taken, including our nation-leading $1 billion economic and social support package and our landmark $5 billion infrastructure program to support 25,000 jobs, it’s no surprise the Tasmanian Government continues to have the most popular policies for business in the nation, as confirmed by Sensis today.

/Public Release. View in full here.