Which state or territory has the strongest job market in the nation? It is not an easy question to answer. But we have
looked at unemployment rates across state and territory economies, comparing the rates with decade averages.
On this measure, Queensland has the strongest job market. Unemployment in Queensland is at 3.7 per cent in September, 38.6 per cent below the decade average.
Western Australia is still in second spot
Next best is Western Australia, its 3.4 per cent jobless rate is 37.8 per cent below the decade average.
Victoria comes next (37.2 per cent below the decade average), ahead of NSW (35.7 per cent below the 10-year average) and South Australia (31.4 per cent below the decade average).
At the other end of the scale, the Northern Territory jobless rate of 4.0 per cent is 9.7 per cent below the 4.4 per cent
decade average rate.
Top Australian Brokers
Ahead of the Northern Territory, is the ACT, its jobless rate of 3.1 per cent is 22.0 per cent below the decade average.
The Tasmanian jobless rate of 4.3 per cent is 31.3 per cent below the decade average.
In September, employment in all of the states and territories was above decade-average levels. Queensland was strongest on this measure with employment 13.0 per cent higher than the decade average.
Queensland is best for employment growth
Looking over the year to September, employment in all states and territories recorded annual gains.
Doing best was NSW (jobs up by 9.2 per cent), followed by the Northern Territory (up 4.9 per cent); the ACT (up by 4.5 per cent); Victoria (up by 4.3 per cent); Queensland (up by 4.0 per cent); Western Australia (up by 2.7 per cent); Tasmania (up 2.5 per cent); and South Australia (up 1.4 per cent).
Originally published by Craig James, Chief Economist and Ryan Felsman, Senior Economist – CommSec