Friday, 14 June 2013

NSW unemployment rate jumps to 5.6% - nearly 23,000 more since O'Farrell government took office

The NSW unemployment rate has jumped from 5.3 to 5.6 per cent in May – with 9,300 more people being added to the unemployment list across the State. 

Significantly, the NSW jobs market shed 1,700 jobs in May – the third time NSW has slipped into negative employment growth in the last 12 months – signalling the underlying weakness in our economy.

Since the O’Farrell Government came to office in March 2011, there are 22,900 more unemployed people in NSW.

In Barry O’Farrell’s two years in office, the unemployment rate has increased from 5.1 per cent to 5.6 per cent.*

“It is clear the O’Farrell Government is failing the people of NSW when it comes to job creation and our economy,” Shadow Treasurer Michael Daley said today.

“This is a very weak result for NSW – bucking the national fall in unemployment.

“The Australian Bureau of Statistics shows that NSW has almost 23,000 more unemployed people now than compared to when the O’Farrell Government came to office.

“Instead of creating jobs, Barry O’Farrell has presided over a huge jump in the unemployment rate.

“The O’Farrell can no longer try to claim they are creating jobs after today’s figures.

“Even the Government’s Jobs Action Plan which promised to provide support for NSW businesses to create 100,000 new jobs in their first term has failed to deliver – with only an 18 per cent take up rate of the scheme so far.”  

*Figures seasonally adjusted. March 2011 to May 2013 unemployment figures.

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