Australian employment increased by 91,500 in 2016, a sharp deceleration on the near 300,000 increase recorded the previous year.
Not the best of news, and fitting with a labour market that is clearly not as strong as it once was.
However, it could have been much worse.
Had it not been for Victoria, employment growth elsewhere in Australia would have fallen, apparently.
This chart tells the story.
According to the ABS, employment in Victoria surged by 118,500 in seasonally adjusted terms last year, meaning employment, collectively, fell by 27,000 everywhere else in the country.
Victorians often think they’re special, perhaps they’re right. Its labour market certainly was last year. Let’s hope they don’t decide to secede from Australia anytime soon.
It must be remembered that these are the ABS’ seasonally adjusted figures, those which have attracted more than a bit of criticism for their veracity in recent years.
So feel free to gloat, Victoria. To those elsewhere in the country, take the result with a pinch of salt.
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