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7000 jobs up for grabs in Northern Territory
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Australia has borrowed heavily to weather the recent COVID-induced economic storm. But, in dramatic contrast to the last major global recession, the nation is emerging with little to show for the deep debt incurred.
Australian Bureau of Statistics (ABS) figures show infrastructure spending under the current government has dropped off alarmingly: total investment in construction projects for 2020 was $34.9 billion. That is a decrease from 2019 spending, despite the raging pandemic and the urgent need to boost the economy with infrastructure development. Worse, it is $4.75 billion less than the investment in 2018.
Bizarrely, last year’s spend was also less than the infrastructure investment in each of the critical four years of the global financial crisis (GFC) 2009 to 2012. And when calculated relative to population or to gross domestic product, which are both far greater than a decade ago, the comparisons are even more dismal.
SYDNEY (REUTERS) - Australian job creation far outstripped forecasts in March as unemployment dropped to a one-year low and the number of people in work surpassed its pre-pandemic peak, a big positive for consumer spending and confidence.
Data on Thursday (April 15) from the Australian Bureau of Statistics (ABS) showed 70,700 net new jobs were created in March, double forecasts of a 35,000 gain.
Unemployment dropped to 5.6 per cent, from 5.8 per cent in February, marking a remarkable recovery from the top of 7.5 per cent hit last July when coronavirus lockdowns tipped the economy into recession.
The economy has now recovered all the 878,000 jobs lost to the lockdowns, taking employment up to a record 13.08 million.
Jobless rate drops for sixth straight month to 5.6pc Part-time jobs helped cut the unemployment rate in March to 5.6pc, from 5.8pc, but the fall came ahead of the end of JobKeeper.
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Subscriber only The unemployment rate fell from 5.8 per cent to 5.6 per cent, as the economy added a further 70,700 jobs in March, marking the sixth consecutive monthly rise in employment. In the final month before the end of JobKeeper, full-time employment fell by 20,800, while part-time employment jumped by 91,500, the seasonally adjusted figures from the Australian Bureau of Statistics showed. The labour market has recouped all of its COVID-related losses, with total employment climbing to 13,077,600 in March.
S&P/ASX 200 recoups early losses following better than expected job numbers
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