Territory Stories

Budget 2013/14 Northern Territory Economy



Budget 2013/14 Northern Territory Economy

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Tabled paper 295


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




Tabled by David Tollner


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.




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Department of the Treasury and Finance

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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

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