Michael Ferguson,Treasurer
Today’s ABS Labour force data has confirmed the underlying strength of the Tasmanian economy with 2,700 more Tasmanians employed during May 2022. In seasonally adjusted terms, 264,900 Tasmanians were employed in May, which is the second highest level on record.
This is 5,800 more people employed than in May 2021, 6,700 more than before the pandemic in March 2020, and a whopping 30,200 more than when we were first elected in March 2014.
Importantly, Tasmania’s labour force is now at its highest level ever at 277,400 persons, which shows that people have the confidence to enter the workforce and look for a job.
The slight increase in the unemployment rate reflects more people entering the labour force. Pleasingly, our participation rate has increased by 1.1 per cent to 61.4 per cent.
We entered the pandemic in a position of strength and have reopened as one of the safest places in the world, and these great results demonstrates the true strength of our economy.
We will continue to support Tasmanians, our businesses, and our community as we deliver on our plan to strengthen Tasmania’s future.
