NV has been a major beneficiary of the global economic downturn.
In the first quarter of the year, the Australian Bureau of Statistics (ABS) revealed that the unemployment rate in the state had fallen to 4% and the number of people in the jobless rolls has dropped by 1.1 million.
“While the rate has fallen from 4.8% to 4%, the unemployment number is still increasing,” ABA Chief Economist Paul Balsillie said at the time.
“In other words, the overall labour market is tightening.”
However, in recent months the ABA has reported that the job market is cooling, and has forecast that the number will continue to shrink.
What’s more, Mr Balsil said the latest ABS figures indicated that the rate of unemployment in the western Australian state had dropped to 4%.
While the state has been in the red for some time, Mr Bojangles pointed to the figures released last week as evidence that the economy was “heading in the right direction”.
But in an interview with the ABC’s 7.30 program this week, Mr Vickers denied that the state’s unemployment numbers were being driven by the economic downturn, and said that the “unemployment rate” was still trending upwards.
“We are not seeing the recession,” he said.
The ABS has also reported that NSW and Victoria have experienced a decline in their unemployment rates. “
So I’m not seeing that as evidence of the downturn in the economy.”
The ABS has also reported that NSW and Victoria have experienced a decline in their unemployment rates.
NSW unemployment is at 4.4% and Victoria is at 5.2%, while Victoria’s unemployment is also at 4%.
Mr Vicks said that while the states were both showing some signs of improvement, it was important to keep in mind that they were “still in a long recession”.
“There’s a lot of uncertainty around this recession,” Mr Vicsons comments.
“There are some signs that there are some areas of recovery in the labour market, but we need to keep that in mind.”
In the past few months, NSW has recorded a record number of unemployed people, with 4,812 people in total, and the state recorded its highest number of jobless people for a month since the beginning of 2015.
But Mr Valsys comments on whether or not the job losses are a sign of a longer-term trend suggest that there is a more nuanced view of the state of the economy than just looking at the unemployment figures.
“I don’t think there’s any doubt that this downturn has been damaging,” he says.
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But that will be slower than what we might have expected, because the economy is still a long way from recovering.”
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