Record Low Unemployment Continues For Tasmania

Michael Ferguson, Treasurer

The latest labour market data released today by the ABS shows that the Tasmanian economy is continuing to thrive under the Tasmanian Liberal Government, despite national economic headwinds.

The latest unemployment figure of 4.0 per cent in the month of May 2024 continues a period of nearly three years of unemployment below 4.2 per cent. Pleasingly, the Tasmanian participation rate also improved to 61.3 per cent – the highest it has been in 2024.

Treasurer, Michael Ferguson, said the Tasmanian economy is firmly holding its record-breaking jobs performance despite the dual challenges of persistent inflation and elevated interest rates.

“This unemployment rate is 3.9 per cent lower than the catastrophic 7.9 per cent it was at the peak of the former Labor-Green Government’s 2013 recession and there are 49,000 more Tasmanians employed today than that time,” Mr Ferguson said.

“The latest figures show approximately 284,000 Tasmanians in jobs, including 138,736 women. Under the strong economic management of the Tasmanian Liberal Government we are seeing more opportunities for Tasmanians than ever before.

“As part of our 2030 Strong Plan for Tasmania’s Future this Government will continue to focus on what matters – jobs, investment and economic growth. Our economic plan has been working for a long time and continues to work.

“The positive employment figures come in the same week the NAB business survey, released on Tuesday, showed that Tasmania continues to have the strongest business conditions in the country, as well as the strongest growth in business confidence since the Tasmanian Liberal Government was returned in the March State election.”

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