Unemployment hits historic low

The Colac district’s unemployment rate is the lowest in at least a decade. The image shows the different unemployment rates for different sections of the region, which have all fallen in the past three months. The graphic is based on statistics from the Federal Department of Education, Skills and Employment.

Colac and district’s unemployment rate has dropped to a record low and continues to outperform the state and national averages, new statistics show.

A local business leader welcomed the low unemployment, but warned it could thwart business growth unless the district could attract and develop skilled workers to fill future vacancies.

The Department of Employment has released its latest unemployment data for the September 2019 quarter and found all areas within the Colac district recorded their lowest or equal-lowest unemployment rates since at least December 2010, which was the earliest set of figures available from the Federal Government’s Small Area Labour Markets data.

The figures revealed just 2.3 per cent of the labour force was looking for work, down from 2.7 per cent in the previous quarter and less than the Victorian average, 3.7 per cent, and Australian average, five per cent.

Colac and District Chamber of Commerce vice-president Alex McKenzie said the low unemployment rate was testament to Colac businesses providing a range of employment opportunities.

“We’re pretty lucky that we’ve got so much industry, it’s an advantage we’ve got over other areas,” he said.

See today’s Colac Herald for more.

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One Response to “Unemployment hits historic low”

  1. David Fraser

    “Unemployment hits historic low” – how good is that headline! And how good is this:
    “The percentage of residents working in the private sector is the equal highest in the state with the southwest city of Busselton AND SECOND HIGHEST IN THE NATION BEHIND COLAC IN VICTORIA WHERE 91 PER CENT OF RESIDENTS WORK IN THE PRIVATE SECTOR.” The emphasis in capitals is mine and the quotation is from an article on page 17 of The Weekend Australian of Jan. 20-21, 2018. The quotation is attributed to the demographer Bernard Salt who was referring to the fast growing Yanchep in W. A. Colac was good to me in the 37 years I spent there in the private sector (the sector that generates the taxes that the public sector spends). Well done people of Colac!