Territory Stories

Territory economic review

Details:

Title

Territory economic review

Creator

NT Treasury, Economic and Social Analysis Unit

Collection

Territory economic review; Department of Treasury and Finance newsletters; PublicationNT; E-Journals

Date

2009-12-01

Notes

Date:2009-12; This publication contains may contain links to external sites. These external sites may no longer be active.; Made available via the Publications (Legal Deposit) Act 2004 (NT).

Language

English

Subject

Northern Territory -- Economic conditions -- Periodicals

Publisher name

Northern Territory Government

Place of publication

Darwin

File type

application/pdf

Copyright owner

Northern Territorty Government

Parent handle

https://hdl.handle.net/10070/216177

Citation address

https://hdl.handle.net/10070/710409

Page content

Territory Economic Review December 2009 Employment ABS labour force survey (LFS) data for the Territory is characterised by extreme levels of volatility and as such should be interpreted with caution. While analysis of the LFS data nationally is focussed on seasonally adjusted data, the ABS only publishes original and trend data for the Territory. In October 2009, the trend number of resident employees in the Territory decreased by 0.2 per cent to 118 310 from September 2009. Nationally, the trend level of employment increased by 0.1 per cent to 10.81 million persons over the same period. In year on year terms, employment growth in the Territory moderated to 4.2 per cent in October 2009. Nevertheless it remains the highest growth rate of the jurisdictions. Nationally, employment growth moderated to 0.4 per cent. Unemployment Rate The Territorys trend unemployment rate declined by 0.1 percentage point to 3.9 per cent in October 2009. This was the second lowest trend unemployment rate of the jurisdictions, behind the ACT. Nationally, the seasonally adjusted unemployment rate (the figure most commonly quoted in the media) increased by 0.1 percentage point to 5.8 per cent in October 2009. Compared to October 2008, the trend unemployment rate in the Territory increased by 0.4 percentage points. Nationally, the seasonally adjusted rate increased by 1.4 percentage points. The Manpower Employment Outlook Survey for the December quarter 2009 reports that despite general optimistic hiring intentions by Territory employers, the quarterly net employment outlook has declined by 5 percentage points to +16 per cent. ANZ Job Advertisements The ANZ bank reports that in October 2009 the number of seasonally adjusted job advertisements in the Territory increased by 1.1 per cent to 290 compared to the previous month. Nationally job ads decreased by 1.4 per cent. In annual terms, newspaper job advertisements decreased by 20.0 per cent in the Territory and by 33.8 per cent nationally. In the year to October 2009, job advertisements in the Territory decreased by 27.6 per cent compared to a decrease of 47.8 per cent nationally (see chart). The Territory reported the second lowest decline in job advertisements of the jurisdictions with only Tasmania experiencing a smaller decline. The ANZ reports that there has been strong resilience to the global slowdown in some of the larger employment industries, including retail trade, health services, government and construction. Employment* (Latest data - October 2009) -5 -4 -3 -2 -1 0 1 2 3 4 5 6 7 -5 -4 -3 -2 -1 0 1 2 3 4 5 6 7 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 Per cent Year ended June Northern Territory Australia Per cent * original data, year on year percentage change Source: ABS Cat. No. 6202.0 Unemployment Rate* (Latest data October 2009) 2 3 4 5 6 7 8 2 3 4 5 6 7 8 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 Year ended June Per cent Per cent NorthernTerritory Australia * trend monthly data Source: ABS Cat. No. 6202.0 Number of ANZ Job Advertisements * (Latest data October 2009) -50 -40 -30 -20 -10 0 10 20 30 40 -50 -40 -30 -20 -10 0 10 20 30 40 2002 2003 2004 2005 2006 2007 2008 2009 2010 Year ended June Per cent Northern Territory Australia Per cent * year on year percentage change Source: ANZ Job Advertisements series Economic Group Northern Territory Treasury (08) 8999 6801 www.nt.gov.au/ntt/ economicservices.ntt@nt.gov.au - 7 -