14 Dec 2017
The Sydney Business Chamber says the NSW half-yearly budget update shows the state is in good economic shape, demonstrating the importance of good public policy on infrastructure, expense management and employment.
“It is no accident NSW has the best economic conditions in Australia with today’s half-yearly review highlighting a 9 per cent increase in construction jobs in the year to August 2017.
“The gains are not limited to construction with today’s labour force survey revealing NSW to have the lowest unemployment rate among any state in the country with 120,000 new jobs created in the year to November.
“This result is supported by the NSW Government’s strong investment record including a commitment to major infrastructure projects across Sydney and NSW.
“The Chamber has long stated the importance of an infrastructure pipeline as it grows private sector confidence and provides a foundation for attracting further investment in the years to come.
“Sydney is in the midst of an infrastructure boom, which gives our workers the opportunity to stay local instead of being forced to look for employment interstate.
“The number of major projects happening now across the city is unprecedented and the pipeline of projects gives workers the confidence to invest in housing.
“The light rail, metro projects, WestConnex, plus the significant construction activity in the education and health sector are examples of the projects that will sustain employment in the future.
“The NSW Government’s commitment to renew two key metropolitan stadiums on top of the work underway at the new Western Sydney Stadium will provide certainty of employment for years ahead. Today’s update demonstrates that NSW has a strong and confident government, and that has a contagious effect on business investment and economic prosperity,” Mrs Forsythe said.