NSW holding up well, despite highest unemployment rate

The NSW Business Chamber has said the NSW economy is holding up well, despite having the highest jobless rate in the country.

The latest ABS figures released on Thursday showed NSW continued to record Australia’s highest jobless rate, rising to 6.5 percent in June, the highest since October 2001.

Chamber chief executive Stephen Cartwright said that while the loss of jobs “provides no small comfort to those without a job,” the extent of the losses and the speed, when compared to other economies, indicates that NSW has been holding up well.

“It’s a tough environment for business, it’s a tough environment for job seekers, but I think there are some glimmers of hope coming through,” he said.

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