Territory Stories

Budget 2013/14 Northern Territory Economy

Details:

Title

Budget 2013/14 Northern Territory Economy

Other title

Tabled paper 295

Collection

Tabled papers for 12th Assembly 2012 - 2016; Tabled papers; ParliamentNT

Date

2013-05-14

Description

Tabled by David Tollner

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

Publisher name

Department of the Treasury and Finance

File type

application/pdf

Use

Copyright

Copyright owner

See publication

License

https://www.legislation.gov.au/Details/C2019C00866

Parent handle

https://hdl.handle.net/10070/273751

Citation address

https://hdl.handle.net/10070/426369

Page content

Labour Market 65 Northern Territory Economy While employment growth is expected to strengthen in the coming years, it is not expected to affect all industries evenly. Strong growth is expected in construction through to mid-2016, driven by increasing demand for construction labour as activity related to major projects escalates. INPEX advises that the workers accommodation village will house up to 3500FIFOworkers, however these will not be included in the Territorys labour statistics, as they are not usually resident in the Territory. Nevertheless, demand for labour for major projects, as well as residential construction, is likely to drive growth in construction employment. The Territory Governments goal of creating a three-hub economy may help growth in tourism, education and training and agriculture, forestry and fishing. The mining industry is likely to see continued growth in 2013-14 and beyond, with a number of projects expected over the forward estimates period. With new land releases and an increasing population, employment growth is expected to be strong in rental, hiring and real estate services. Weakness in employment in public administration and safety is expected to continue, reflecting fiscal consolidation by the Territory and Commonwealth governments. Employment in the manufacturing industry is expected to increase from 2016-17 as production commences at the Ichthys LNG plant, however it will be more than offset by a decline in employment in construction. Industry Prospects


Aboriginal and Torres Strait Islander people are advised that this website may contain the names, voices and images of people who have died, as well as other culturally sensitive content. Please be aware that some collection items may use outdated phrases or words which reflect the attitude of the creator at the time, and are now considered offensive.

We use temporary cookies on this site to provide functionality.
By continuing to use this site without changing your settings, you consent to our use of cookies.