State of the Victorian Labour Market Report 2023

• Key points

  The state of the Victorian labour market in figures.

• The Victorian labour market remains strong

  The proportion of people employed or actively looking for employment has reached a near record high and the unemployment rate is very low.

• Victoria is expecting over 350,000 new workers by 2026

  Around 352,000 new workers are expected to enter the labour market in Victoria by 2026.

• Influences on the Victorian labour market

  The Australian economy is forecast to grow more slowly than previously expected.

• A few ideas to help meet the demand for new workers

  Improving labour productivity is key to Victoria's long-term prosperity.

• Appendix A: Employment forecast methodology

  Employment forecast methodology

• Appendix B: Metropolitan and regional summaries

  Metropolitan and regional summaries

• Appendix C: Qualitative evidence on the influences on employment growth by industry

  Qualitative evidence on the influences on employment growth by industry

Updated 25 October 2023