Comm Sec State and Craig James

Comm Sec: Key pointsNSW economy strongest, ahead of VICACT improves from sixth to equal third with NTGrowth from housing development at four-year high in ACTWA fastest growing, but slowing down with end of mining boom The Comm Sec State of the States report compared the performance of all the state and territory economies over the final quarter of 2015, according to Australian Broadcasting Corporation. While the two most populous states are strongest, Comm Sec chief economist Craig James said the ACT economy was gaining ground. "There is a fair gap between New South Wales and Victoria and the other states and territories," he observed. "The big improver this time around has been the ACT — it was sixth in the last survey, it now equal third this time around with the Northern Territory." Mr James said growth in the ACT, as in New South Wales and Victoria, has been underpinned by housing development. "If more homes are being built, freestanding homes and apartments, it provides additional employment opportunities, it provides opportunities for retail spending and will provide momentum for the economy," he added. Related Story: SA job market improvement 'source of hope' for economy Map: Australia The latest report comparing the economic performance of Australia states and territories shows New South Wales still has the strongest performing economy, pulling further ahead of Victoria. New home building in the ACT is at four-year highs. However, she acknowledged room for improvement in dealing with youth and regional unemployment. NSW Treasurer Gladys Berejiklian said the New South Wales jobs growth figures were particularly pleasing. "Half of all jobs created in Australia being created in New South Wales every month, and that something to be proud of," Ms Berejiklian said. (news.financializer.com). As reported in the news.