Regional unemployment falls to record low

THE latest ABS data shows Victoria’s regional unemployment at 3.8 percent in the three months to June – the lowest recorded rate in Victoria’s history and the lowest in the nation. It’s also well under the Australian average regional unemployment rate which sits at 5.3 percent.

The Labor Government is making things easier for regional businesses, with the regional payroll tax rate to be slashed to just a quarter of the metro rate by 2022/23.

The government is also supporting business relocation to the regions by cutting land transfer duty on commercial and industrial regional properties. The duty will be reduced by ten percent each year to reach 50 percent of the metropolitan rate by 2023.

Acting Treasurer, Robin Scott said, “Investing in regional Victoria’s centres and towns is a top priority for this government to grow jobs and reduce unemployment.”