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Job market continues to deteriorate



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NEWS RELEASE JOHN HOWARD, M.P.

M E M B E R FOR BENNEL.ONG S H A D O W M IN IS T E R FOR IN D U S T R IA L

R E L A T IO N S , E M P L O Y M E N T <1 T R A IN IN G

IRET 8/91

EMBARGOED UNTIL MIDNIGHT SUNDAY 3 MARCH 1991

JOB MARKET CONTINUES TO DETERIORATE

The latest. ANZ job advertisement figures show a further, alarming deterioration in the jobs market throughout Australia in February.

The situation is likely to continue to deteriorate for at least another six months.

In the year to February 1989 the ANZ series rose by 22.3 per cent.

In the year to February 1990, it fell by 28.8 per cent.

It has fallen by another 50.8 per cent in the 12 months since, a cumulative fall of 65 per cent during the 24-month period.

The behaviour of the series is further evidence that Australia is in its most severe recession since World War II.

Of particular concern is the worsening situation in NSW, which previously had held up well compared to other states.

The average number of weekly advertisements in NSW fell by more than 50 per cent in the year to February.

SYDNEY 3 March 1991

COMMONWEALTH PARLIAMENTARY LIBRARY MICAH