Unemployment rate drops and more Tasmanians earning more money

Michael Ferguson, Treasurer

The Tasmanian Liberal Government welcomes the latest Australian Bureau of Statistics data which shows that Tasmania continues to have a strong employment market.

In data released today, Tasmania’s unemployment rate in March 2024 has dropped by 0.1 per cent to the equal lowest level on record at 4.0 per cent.

In further good news for Tasmanians, data released by the ABS yesterday showed that Tasmania experienced the strongest wages growth in the nation in the March 2024 quarter, both compared to the previous December 2023 quarter, and over the year since the March 2023 quarter.

In the four quarters to March 2024, the Tasmanian Wage Price Index (WPI) grew by a whopping 4.9 per cent which is fantastic news for Tasmanian workers. In fact, the growth compared to the previous quarter of 1.6 per cent was more than double the next-strongest state of Queensland, which grew 0.7 per cent in the quarter.

These results are much needed to assist households respond to the persistent cost of living pressures that are being driven by Dr Chalmers’ “Jimflation”, which is set to continue thanks to the inflationary policies of the Federal Government.

The Government’s 2030 Strong Plan for Tasmania’s Future enables a strong employment market with well paid jobs, and these outcomes are why our plan will grow Tasmania’s economy and support jobs and investment.

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