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Unemployment continues to trend up



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press release press release

DR HARRY EDWARDS MP MEMBER FOR BEROWRA

ACTING SHADOW TREASURER FAX 02.476.6462 PH. 02.476.3675

17 January 1991

UNEMPLOYMENT CONTINUES TO TREND UP

While today's monthly employment /unemployment figures show on the face of it a marginal improvement, the ABS's own 'trend series' shows employment falling and unemployment continuing to trend up through December. And the ABS figures for Vacancies, show

private sector vacancies down 55 per cent on the year earlier.

The fact remains, that notwithstanding the slight dip in

seasonally adjusted unemployment in December, unemployment has increased by the order 1000 a day in the last half of 1990 -

confirming the deepening of the Keating-engineering recession.

The outlook for school leavers and youth is bleak indeed with adjusted aged 15-19 unemployment at 23 per cent (original figure 25.9 per cent, 27.5 per cent for females), and even apprentice situations are being terminated.

This is the recession we did not - repeat, did not - have to

have.

The Government having brought it on there is not too much the Government can do in the short term. The recession is too big - and the foreign debt legacy is too vast - for short term measures to really help.

The Government should concentrate on getting the 'fundamentals' right to ensure a robust and sustainable recovery.

In particular, the recession for all its pain and loss is an opportunity to encourage enterprise bargaining in work places all round the country for deals to increase productivity. With the outbreak of the war in the Gulf, there may even be a greater

spirit of give and take, in the national interest.

That would contribute much to achieving the quantum increase in productivity which is what the country needs above all else.

For further information:

Dr Harry Edwards Ph: 02) 476 3675 or 02) 484 2170 (ah)

COMMONWEALTH PARLIAMENTARY LIBRARY MICAH

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