The unemployment rate in the Hilltops area reached 4.9 percent at the end of the September 2016 quarter, which is just higher than the five-year low reached in September 2012 when the figure sat at 4.4 percent.
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According to figures released by the Australian Government Department of Employment, the rate rose to 7.0 percent in the September quarter of 2015, but was down again by the same time in 2015 when unemployment was at 4.6 percent.
Unemployment sat at 5.1 percent in the March quarter and 5.2 per cent in the June quarter.
In comparison, Forbes’ unemployment rate is the lowest it has been in five years – just 4.6 per cent at the end of the September quarter.
It’s a significant change from the 7.8 percent rate for the same quarter last year, 6.7 percent in September 2014 and 7.6 percent in 2013.
The trend looks to be regional and Western New South Wales Business Chamber regional manager Vicki Seccombe said it was a real indication of business confidence.
She said the New South Wales Business Chamber’s September quarterly business conditions survey showed things had stabilised at above-trend levels.
“With the State’s economic conditions continuing to improve over the past year and the New South Wales Government’s budget in a strong position, we believe this has contributed to increased business confidence throughout much of New South Wales,” she said.
“In alignment with this confidence, respondents reported increasing staff numbers and capital spending.”
It’s no reason to rest on our laurels.
“We do need to continue working on creating job opportunities for our unemployed throughout the region, particularly for our youth,” Ms Seccombe said.
“We definitely welcome the government’s commitment to regional infrastructure investment but we need to see shovels in the ground to continue to stimulate economic growth and more local jobs.”
Around the rest of the region, Parkes’ unemployment rate is 6.8 percent, down from 10.3 percent in September 2015 and 7.7 percent the same quarter in 2014.
In Cowra, the drop has been even more dramatic, down to 6.6 percent from 11.2 per cent for September 2015 and 9.5 percent in September 2014.
Orange is sitting at 4.5 percent and Bathurst at 4 percent.
