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Budget Paper No.6 1997/98 Northern Territory Economy



Budget Paper No.6 1997/98 Northern Territory Economy

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Tabled Paper 3223


Tabled Papers for 7th Assembly 1994 - 1997; Tabled papers; ParliamentNT




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Labour force participation rates are typically higher in the Territory than elsewhere in Australia. This reflects the larger proportion of working age persons in the Territory population and higher female involvement in the labour force. The average participation rate in the Territory over the twelve months to February 1997 declined slightly to 69.7%. Nationally, the average participation rate also declined slightly to 63.6% over the same period. The average participation rate in the Territory for females for the twelve months to February 1997 was 63.7%, an increase of 0.5 percentage points from the previous year and is 9.8 percentage points greater than the national average for females at 53.9%. For Territory males, the average participation rate for the same period decreased, dropping 2.5 percentage points to 75.5%, while the national average participation rate for males was 73.6%. Labour Market Outlook Employment forecasts reported by Access Economics in its Budget Monitor indicate that Territory employment will increase by 3.2% during 1997-98, compared with a 2.4% expected increase nationally. The average unemployment rate in the Territory is forecast to be 5.1% during 1997-98, the lowest of any State or Territory and 3.4 percentage points lower than the forecast national unemployment rate. The national labour force is expected to continue to expand but at a slower rate than previous years, while the unemployment rate is expected to decrease marginally as economic activity strengthens. The Territory should experience solid employment growth over the next year. The continued growth of the tourism, mining and transportation industries, combined with a continuation of the defence buildup in the Territory, should provide the basis for employment growth in 1997-98. 0 10 20 30 40 50 60 70 80 90 90-91 92-93 94-95 96-97* Labour Force (annual average) Unemployed Part-time employed Full-time employed '000 Source: ABS Cat. No. 6202.0 * NT Treasury estimate Figure 5.4 Labour Market 30