29 April 2014

Canberra slips from 3rd to 6th strongest Australian economy

| Canfan
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ACT has slipped from Australia’s third strongest economy to the sixth, according to the ‘April 2014 State of the States’ report issued by CommSec yesterday.

The report also shows ACT has the weakest levels of investment.

The area of the report that may be surprising to read is unemployment rates in the ACT, which sits at 3.4% (the lowest in Australia).

MP Gai Brodtmann released a statement about this yesterday saying ‘The ACT is bracing itself ahead of expected public service cuts in the May budget’.

She also says that the ongoing uncertainty around APS jobs in Canberra is now constraining the economy.

My question is how we are managing to hang on to relatively low unemployment figures? Are rumoured redundancies not yet taking place? And just how long can we stay in such a state of uncertainty and fear over jobs?

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Unemployment rate may be 3.4% however youth unemployment has risen to 11.3%, from 6.5% in 2008.


Holden Caulfield8:36 am 29 Apr 14

This town has been dead quiet for months!

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