Market/Finance News: Victorian employment grows by more than 10,000 during April

By the resi financial blog team, 14 May 2014

Employment figures in Victoria

Employment is an important thing to consider when you're looking into the Australian real estate market. There are a number of different developments occurring across the nation, with individual states finding their strong strides with regards to growth.

Victoria has undergone impressive employment growth, with the state economy creating an additional 10,100 full-time jobs during April. 

According to the latest data from the Australian Bureau of Statistics, this was the highest level across Australia. As more people begin to look for work in the region, investment in property across the state could provide a lucrative profit for smart buyers in the coming months. 

Treasurer Michael O'Brien said the confidence of the Victorian economy could be attributed to the state's labour force, which was continuing to run at the highest level of all non-mining related states in Australia. There are now 54,800 more people employed than back in 2010. 

"Today's labour force figures underline how important it is to have a strong state budget to fund a record infrastructure pipeline that generates jobs, increases investment and boosts productivity," said Mr O'Brien in a May 8 statement. 

One of the reasons for the growing labour force across the state was the growth in infrastructure development in various places across the region. Employment is expected to continue upwards over the remainder of the year and well into 2015. 

"Our 2014-15 budget delivers a record spend of up to $27 billion in job-creating major infrastructure projects," said Mr O'Brien. 

With further growth expected over the coming months, a number of residential developments will be created across the state - especially in Melbourne, as the capital city continues to maintain its strong status in Australia. 

Categories: Property Investment