Latest ABS data reveals low unemployment rates in Bendigo, regional Victoria

The figures released this week show the regional unemployment rate is 2.9 per cent, while the national rate sits at 3.1 per cent.

Unemployment in most areas of regional Victoria is now less than half of what it was in 2014.

In Bendigo the unemployment rate is 1.7 per cent, in Ballarat two per cent, in Geelong 2.4 per cent, and in the Warrnambool and South West region the unemployment rate is 1.3 per cent.

"It's fantastic to see so many people in work in regional areas and the regional unemployment rate continuing to be the lowest in the nation," Victorian treasurer Tim Pallas said.

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"The recovery from the pandemic has been statewide and that is reflected in these jobs numbers and the confidence that people have across the state."

The number of regional jobs has risen by 12 per cent, to just under 740,000.

Victoria's overall unemployment rate dropped last month to a historically very low 3.5 per cent.

Almost 600,000 jobs have been created in Victoria since November 2014 and the economy is growing faster than any other state with the ABS reporting state final demand growth in Victoria for 2021-22 was 40 per cent higher than the national average.

The Deloitte Access Economics Business Outlook forecast continued strong growth, with gross state product tipped to expand by 3.7 per cent this financial year.

The NAB Monthly Business Survey for September showed business confidence in Victoria was the highest among all the states while business conditions improved strongly and were close to the best on record.

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