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.