Territory Stories

Budget 2007-2008 Northern Territory Economic Overview

Details:

Title

Budget 2007-2008 Northern Territory Economic Overview

Other title

Tabled paper 865

Collection

Tabled papers for 10th Assembly 2005 - 2008; Tabled papers; ParliamentNT

Date

2007-05-01

Description

Tabled By Sydney Stirling

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/Series/C1968A00063

Parent handle

https://hdl.handle.net/10070/283514

Citation address

https://hdl.handle.net/10070/410859

Page content

Northern Territory 007-08 budget Labour Market The Territory labour market continues to strengthen in 2006-07 as buoyant onshore economic conditions prevail. Labour market statistics and related indicators point to strong employment growth and a shortage of skilled labour in 2006-07, which is expected to continue into 2007-08. Following an increase of 4.0 per cent in 2005-06, as reported by the Australian Bureau of Statistics (ABS), resident employment is expected to increase by 4.4 per cent in 2006-07. Resident employment growth of 2.3 per cent is forecast for 2007-08, supported by ongoing construction work on the Darwin Waterfront Development, residential construction and engineering projects such as the condensate processing facility and the Blacktip gas pipeline. ABS-reported employment data does not include defence personnel or fly-in fly-out workers and as such does not capture all types of employment in the Territory. Even more importantly, ABS employment data for the Territory is subject to very high levels of volatility and must be interpreted and considered in conjunction with a range of other economic indicators. -10 -5 0 5 10 15 00 01 02 03 04 05 06 07 % SFD Employment Year ended June Territory State Final Demand and Employment Growth (year on year) Source: Northern Territory Treasury, ABS Cat. Nos. 5206.0, 6202.0


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