Home' Employment Forecast : April 2010 Contents MyCareer Employment Forecast
Source: EMDA Model 2010
Change in Jobs
Change in Jobs Quarterly
The Victorian economy has performed relatively well over the GFC, with State Final Demand growing by 4.1% in the December
09 quarter. Although the same factors that have influenced the National economic growth apply, such as low interest rates and
Government Stimulus spending, the big hero in Victoria has been its population growth. The State's population is now growing
at 2.2%, which is nearly double the 1.2% growth recorded in 03/04. The big component of this growth has been an increase in
This economic growth has resulted in a strong recovery in the job market in Victoria. Such is its strength, that unlike the other
major States, Victoria has been growing full time employment since November 2009. This is the only large State to do so.
There are a number of infrastructure projects that are supporting this growth, including the $1.4 billion M1 upgrade linking the
Westgate Bridge to the Monash Freeway and the $750 million Peninsula Link between Eastlink and the Mornington Peninsula
Freeway. There is also the gas fired power station at Mortlake, plus the new low emission coal fired plant in the Latrobe Valley.
Melbourne's major airport is also getting an upgrade, while work continues on the desalination plant.
There is strong evidence that the labour market will continue to grow. Business employment intentions have lifted considerably,
with the index rising to +11.2 in December 09, compared to a near historic low of -23.0 in March 09. ANZ job ads are also up 19%
in March 10.
With the improved confidence, underlying economic strength and population growth, the outlook is more positive, with jobs
forecast to be growing by 0.7% in the February 11 quarter.
Jobs are growing in Victoria and there are more on the way
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