Territory Stories

Budget Paper No5 Northern Territory Economy 1998/99



Budget Paper No5 Northern Territory Economy 1998/99

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Tabled Paper 382


Tabled papers for 8th Assembly 1997 - 2001; Tabled papers; ParliamentNT




Tabled by Michael Reed


Made available by the Legislative Assembly of the Northern Territory under Standing Order 240. Where copyright subsists with a third party it remains with the original owner and permission may be required to reuse the material.




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LABOUR MARKET The Territory labour market performed solidly during 1997-98 with strong employment growth and a further decline in the Territory's consistently low unemployment rate. The Territory continues to have a higher than average participation rate and the lowest unemployment rate of any State or Territory. Nationally, employment growth eased somewhat during 1997-98 from the relatively high rate of growth experienced over 1993 to 1996. Growth in employment was greater than the rate of increase in the labour force and, as a result, the national unemployment rate decreased to 8.5%. EMPLOYMENT In 1997-98 employment in the Territory increased 2.5%, following the significant increase of 2.9% in the previous year. This increase was the net result of an increase in full-time employment (up 6.1%) partially offset by a fall in part-time employment (down 9.6%). The continuing expansion of a number of industries in the Territory were the major contributing factors to the Territory's increase in employment. These industries included construction, transportation and retail trade. Nationally, full-time employment increased by 0.5% while part-time employment was up 2.2%, resulting in an overall increase of 0.9% during 1997-98. The slowing of national employment growth reflects the fact that the recovery of employment, lost 25 Chapter 5 65 70 75 80 85 90 87-88 88-89 89-90 90-91 91-92 92-93 93-94 94-95 95-96 96-97 97-98e 7.0 7.5 8.0 8.5 9.0 '000 million Australia (Right scale) Northern Territory (Left scale) Figure 5.1 EMPLOYMENT Source: ABS Cat. No. 6202.0 e: Treasury estimate

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