Victoria Real Estate Board

Victoria Employment Trends

The unemployment rate in Victoria was 4.3% as of February 2024, down 0.2% from the previous month. The unemployment rate stood 6.8% below the peak from July 2020 and is below the long-run average.

There were 200 more full-time jobs in February 2024 compared to a month earlier. A loss of 300 part-time positions led to a decrease of 100 total jobs in February.

Full-time employment was still down 7,900 jobs from the peak in October 2023 but stood 200 jobs above the trough in January 2024.

* All figures are seasonally adjusted, 3-month moving averages. Seasonal adjustment removes normal seasonal fluctuations.


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