Lake Mac economy rebounds
26th August 2022
Some encouraging data for Lake Macquarie in the latest job stats which show our region is recovering well from the economic pressures of the pandemic.
Overall we've seen a 6.5% rise in job growth and this is significantly higher than the State average of 1.0%.
The unemployment rate in the Lake Macquarie LGA is now 4.1% which is the same as the NSW average.
Our youth unemployment rate is 7.4% which compares favourably to the NSW average of 8.7%.
We have 196,980 people employed locally (Lake Mac + Newcastle) and a participation rate of 65.4% which is also roughly in line with the current State average.
It's heartening news given the challenges of the past few years.