More worrying data has provided further evidence that Tasmania’s economy is struggling after 10 years of a Liberal government, with people also leaving the state in droves.
ABS jobs data released today shows Tasmania’s unemployment rate is up again to 4.4%, the highest in the country, and significantly higher than the unchanged national rate of 3.7%.
But the bad news doesn’t stop there.
Total employment has dropped for the fourth month in a row, down 800 jobs in total.
The number of unemployed people has increased for the seventh month in a row, up 2,500 in total.
And there’s no easy economic sugar hit on the horizon, with Tasmania also recording the lowest population growth of anywhere in the country.
This measly growth was driven entirely by overseas migration, and when you look at interstate migration, people are leaving the state in droves.
Tasmania recorded a negative net interstate migration over the past year, with 1,994 people leaving.
The most recent quarter saw 862 people leave, which is the worst result for the state since the late 1990s.
Business confidence is down. State final demand is down. Business investment is down. Retail trade is down. The only stats going up appear to be power prices and debt.
After 10 years of a Liberal government, Tasmania’s economy is tanking and people are voting with their feet to find greener pastures interstate.
Shane Broad MP