Population growth driving WA’s economy

WA’s economy is being powered by people as the state experiences positive population growth closing the gap between WA and the national average.

The following factors are all contributing to the upswing and the slow but gradual strengthening of the economy:

• Migrant numbers are increasing.
• The number of residents leaving the state for other parts of Australia is decreasing.
• The jobs market is gaining momentum driven by the resources, finance and professional sectors.
• The unemployment rate has dropped.
• Regional domestic tourism continues to grow with a 9.6% rise from interstate tourists visiting WA.
• Iron ore prices are gaining strength.

This is a summary of the article ‘WA gets a move on, The State’s people power’ by Stuart McKinnon | Published in the West Australian | Monday, January 20, 2020 | Page 9.