Territory Stories

Budget Paper 1994-95 No.6 Northern Territory Economy

Details:

Title

Budget Paper 1994-95 No.6 Northern Territory Economy

Other title

Tabled Paper 2156

Collection

Tabled Papers for 6th Assembly 1990 - 1994; Tabled Papers; ParliamentNT

Date

1994-05-12

Description

Tabled by Barry Coulter

Notes

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.

Language

English

Subject

Tabled papers

File type

application/pdf

Use

Copyright

Copyright owner

See publication

License

https://www.legislation.gov.au/Details/C2021C00044

Parent handle

https://hdl.handle.net/10070/292876

Citation address

https://hdl.handle.net/10070/398240

Page content

Labour Market Figure 3.4 illustrates the downward trend in the T errito ry unem ploym en t rate including estimates for March to June 1993/94. The estimated average Territory unemployment rate for 1993/94 fell to 7.4% from 8.3% the previous fiscal year. The national unemployment rate fell from 11.0% to 10.7% over the same period. Until September 1993, the rate o f growth in national employment was mirrored by growth in the labour force, such that improvement in the unemployment rate made little headway. Since October 1993, accelerated employment growth has led to modest, but successive, decreases in the u n em p lo y m en t ra te , how ever, u n employment among those seeking full time employment remains high at 11.4%. Youth unem ploym ent data re la tes to persons 15 to 19 years o f age, who form a relatively larger proportion o f the population in the Territory. Despite this, the average youth unemployment rate in the Territory was down in the twelve months to March 1994 from 26.4% to 22.8% which compares favourably with a national rate down from 32.6% to 32.0% during the same period (unadjusted data). The unemployment rate in the Territory by gender for the twelve months to March 1994 averaged 7.8% and 7.2% for males and females, respectively. Nationally, the rates were 11.3% for males and 10.0% for females. Labour Force In 1993/94, the estimated size o f the Territory labour force contracted 2.4% following a reduction in 1992/93 o f 3.5%. Nationally, the labour force increased by an estimated 1.6% after increasing 0.7% the previous year. Figure 3.4 Unemployment Rates (annual average) % Source: ABS Cat. No. 6202.0 * N T Treasury estimate