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 Current and projected growth in national employment levels is, however, following a period of significant employment loss associated with the recession. The Territory labour market was spared this debilitating experience, with employment levels remaining relatively constant throughout the national recession. The effect o f this was also evidenced in a range o f other economic indicators for the period which showed the Territory economy to be in a healthier state than the national average. The most recent labour force estimates for the Territory show an unexpected decline in employment during mid 1993/94 which does not reflect the continued strong performance in other areas o f the economy or the significant level o f overtime hours and growing number of employees working overtime. For these and other reasons there is some uncertainty surrounding recent labour force estimates and suggests that Territory labour market conditions are more robust than recent ABS estimates would indicate. The onset o f the Dry Season, bringing rising tourist numbers and increased construction activity due to growth in private and public investment, combined with the relocation o f further defence force personnel to the Territory, should see employment levels increasing over the remainder o f 1993/94. Longer term employment prospects remain positive with stimulus coming from the commencement o f major on and offshore mining operations and planned development at existing sites; continued growth in Territory trade with Asia which can be expected to underpin growth in export oriented industries, particularly primary produce and tourism; and service industries associated with the increased defence presence. 2 0


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