9 December 2004
Jobs Figures Remain Flawed
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Syd Stirling MLA
Treasurer
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The ABS has recorded a slight drop in the Territory’s jobless rate to 7.3% for the month of November, but the figures still fail to accurately reflect the true state of the Territory workforce, Treasurer Syd Stirling said today.
“The ABS figures continue to be skewed by a sample that includes a disproportionately high number of unemployed households, so the figures are not an accurate reflection of current labour force trends in the Territory,” Mr Stirling said.
“The ABS has acknowledged the flaws in their methodology in calculating Territory labour force figures.
“In reality, the biggest labour force issue the Territory is facing is a shortage of skilled workers – not high unemployment.
“This is something the Territory Government is working to address through the three-year, $160 million Jobs Plan which aims to build a skilled workforce and by attracting more workers here from interstate and overseas.
“Every other economic indicator points to strong growth in our economy and our workforce.
They include:
- ANZ job advertisement series showing a 32% increase in Territory jobs ads in the year to November
- Sensis Business Index survey showing Territory Small to Medium Enterprises with the highest level of net employment growth in Australia
- A rise in housing finance figures of 22.5% in the year to October
- Annual population growth of 0.7% to the June quarter 2004
- Retail turnover up 6.7% in the year to September
- Residential approvals up 31.6% in the year to September
“Major projects underway or coming on line in the Territory, as well as continuing strong activity in the construction sector, are opening up significant job opportunities in the Territory.
“Our economy is moving ahead, but ABS jobs data has again failed to capture the growth that is occurring in the Territory.”