Women to thank for jobs explosion
WOMEN are being lured back into the workforce in droves, taking advantage of a surge in NSW businesses offering flexible hours.
Prime Minister Malcolm Turnbull yesterday announced that NSW was leading a national explosion in jobs as female participation reached the equal highest on record.
More than 4.02 million people were employed in the state in June, up from 3.99 the previous month.
Nationally there were 50,000 new jobs and more than half of those - 27,000 - were created in NSW as the state's unemployment rate dropped from 4.9 per cent to 4.7 per cent, which was the lowest of any state.
The jobs growth came off the back of a surge in part-time positions, which NSW Business Chamber chief executive Stephen Cartwright yesterday said showed a consistent growth in local companies.
He said as businesses grew they were more likely to offer part-time work to ensure they did not overstretch their resources.
These positions, Mr Cartwright said, often appealed to mums returning to work as well as older people looking to reduce their workload which, in turn, opened up full-time jobs.
"These figures show businesses want to invest, and that they are upbeat about the future and the broader economic outlook," he said.
Mr Cartwright said tourism, retail and hospitality were excelling while there was a "surprising but welcome" growth in manufacturing jobs.
The Australian Bureau of Statistics data also showed the youth unemployment rate fell again in June to 11.3 per cent, which is its lowest since April 2012 and well below the peak of 14.4 per cent in October 2014.
"Our national economic plan for a stronger economy and more jobs is working. This is what happens when you have a stronger economy," Mr Turnbull said.
Treasurer Scott Morrison said not only were there more jobs available but more Australians were putting their hand up to get into the workforce.
"There are two real heroes - the businesses that create jobs and offer those jobs, and the people who went out there seeking them and got those jobs," Mr Morrison (pictured) said.
NAB markets chief economist Ivan Colhoun said NSW in particular was continuing to drive employment growth while other states were racing to catch up.
St George chief economist Besa Deda said that a record spend on infrastructure was underpinning the boost in NSW.