Victoria has been ranked the first state to perform the best economy in Australia

Melbourne, Australia – Victoria has risen to the top of Australia’s best performing economic states. After more than two years, Victoria has risen to the top spot, overtaking Tasmania.

The latest quarterly Comes State of the States report showed an exceptionally strong job market in Victoria helped propel it to the top of the list. Australian Bureau of Statistics (ABS) figures recently showed Victoria’s unemployment rate was 3.2 per cent. It is said to be the best situation in nearly 50 years.

The report also showed that Victoria had the largest job growth of all states and territories in June. More than 28,000 new jobs were added in Victoria during that period, the report said. Retail spending in Victoria rose more than any other state in the last quarter, compared to the decade’s average level, the Comes report said.

These are the states with the best performing economies in Australia

  1. Victoria
  2. Australian Capital Territory
  3. Tasmania
  4. Queensland
  5. Western Australia
  6. South Australia
  7. Northern Territory