Page 3001 - Week 11 - Thursday, 22 October 1992
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CHIEF MINISTER FOR THE AUSTRALIAN CAPITAL TERRITORY
LEGISLATIVE ASSEMBLY QUESTION
Question No 332
Economic Forecasts
Mr Kaine - Asked the Chief Minister upon notice on 16 September 1992:
(1) What is the anticipated level of growth in the ACT economy for the financial year 1992-93.
(2) What factors were considered in reaching the forecast.
(3) What is the expectation for employment and participation for women, young people 15-25 and males aged 40-55.
(4) How do these expectations compare to 1991-92.
Ms Follett - The answer to the members question is as follows;
(1) The ACT economy is expected to grow by 2.0% in real terms
over 1992-93.
(2) This forecast is based upon an expected increase in wages, salaries and supplements of 4.0% arising from employment growth of 1.0% (1,500 jobs) and an expected 2.5$ increase in private consumption expenditure due mainly to lower interest rates and greater consumer confidence.
(3) Employment is forecast to grow by 1.0$ (1,500 jobs) during 1992-93. Sectors with the strongest opportunities for growth are in tourism and the service industries. Women and young people (15-25) are expected to be major beneficiaries and are expected to increase their employment numbers in these industries. Other age groups will gain jobs in line with the overall rate of job growth. The ACT Government has introduced a number of employment and training programs targeted at youth, women wishing to reenter the workforce, and the long term unemployed (which include unemployed males aged 40-55). These programs involve grants to community based organisations which provide a range of
employment related services including job placement and support.
(4) During 1991-92 there was no growth in overall employment and individuals seeking work in all age groups were affected.
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