NSW: NSW jobless rate hits

AAP General News (Australia)
04-09-2009
NSW: NSW jobless rate hits

By Nick Ralston, State Political Reporter

SYDNEY, April 9 AAP - NSW's unemployment rate has hit a 10-year high with latest figures
revealing that almost 16,000 people lost their jobs in the past month.

Figures released on Thursday show unemployment in NSW rose to 6.9 per cent in March,
up from 5.9 per cent the month before.

The national figure for March was 5.7 per cent, with 34,700 jobs lost across Australia.

Almost half of those loses occurred in NSW where jobs slumped by 15,900 in March.

NSW Treasurer Eric Roozendaal said the figures were a "stark reminder" of what the
global financial crisis is doing to the economy in Australia, and in particular to NSW.

"NSW, as the economic engine room of the country, with the largest finance and services
sector, was the first to feel the impact of the global financial crisis," he told reporters.

"We are continuing to feel that impact, particularly in those sectors."

Despite the alarming figures, Mr Roozendaal indicated the NSW government would not
announce any new, major job-related incentives before the June state budget.

He said the state government was already embarking on a number of initiatives to protect
jobs, including a $56.9 billion infrastructure spend over the next four years.

NSW was also working hard to help deliver the federal government's stimulus package,
Mr Roozendaal said.

"We'll be looking at other avenues within the forthcoming budget to support jobs in
NSW," Mr Roozendaal said.

"Our priority will be jobs, and building on jobs in NSW."

NSW Opposition Leader Barry O'Farrell said the latest figures showed 360 jobs were
lost in NSW every day that Nathan Rees has been premier.

Mr O'Farrell said this was in stark contrast to Mr Rees' claims that his government
was creating jobs.

"These are disastrous figures for NSW. They are terrible news for families across this
state," he told reporters.

"And it's made worse by a premier who pretends that he's creating jobs.

"These figures blow the whistle on Nathan Rees, who is pretending to be out there creating jobs."

Mr O'Farrell again called on NSW to devise its own state-based stimulus package like
all the other states in Australia had done so.

The coalition has already said it would like to see a cut in payroll tax, economic
infrastructure to be brought forward and the cutting of infrastructure lead times.

AAP nr/hn/ss

KEYWORD: JOBS NSW UPDATE

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