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Labor leader Mark McGowan, 49, replaces 66-year-old Premier Colin Barnett, inheriting a state economy weighed down by the nations highest jobless rate and stuttering growth. I wont let you down, McGowan told supporters on Saturday in his victory speech. Today, West Australians voted for hope and opportunity over desperation and division. Labor, which has pledged to create 50,000 jobs and boost public transport and services, faces a daunting task in turning around the economy of the resources-rich state thats born the brunt of a downturn in commodity prices. McGowan has said erasing a debt mountain -- forecast to reach A$33.8 billion ($25.5 billion) in June and rise 13 percent next year -- will take decades, and is instead focused on boosting growth thats plunged from 9.1 percent to 1.9 percent in the past five years. More from Bloomberg.com: Trump Points to Drudges Great Again Praise of New Jobs Report Labor is projected to win 40 of the 59 seats in the lower house,according to the Australian Broadcasting Corp. Barnetts Liberal party -- in office for eight years -- is set to take 14 and his junior coalition partner, the Nationals, five, the ABC projected. The people wanted a change because of the long period of time that Colin Barnett had been in government, Federal Finance Minister Mathias Cormann said in an ABC television interview from Perth on Sunday. More from Bloomberg.com: Bharara, Wall Streets Cop, Among Prosecutors Asked to Quit Efforts by McGowan , a former navy officer who has been a lawmaker for more than two decades, to reign in debt and reclaim the states AAA credit rating will be complicated by his pledge to block the planned sale of a 51 percent stake in energy provider Western Power. Labors victory also means that mining giants such as BHP Billiton Ltd.