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NSW unemployment is heading in the right direction: Down

20 October, 2009

NSW’s largest employer organisation, NSW Business Chamber, has said that employment data was a positive outcome for NSW with unemployment falling from 6.1% to 5.6% but warned this was no excuse for complacency in continuing to drive down unemployment.

“This significant drop in unemployment is a good result for NSW and puts us back at the level we were at towards the beginning of the year,” said Stephen Cartwright, CEO of NSW Business Chamber.

“NSW had been leading the nation in unemployment for a number of months and it would appear that we may be swinging around to lead the nation back on the road to low unemployment.

Cartwright said he attributed the results to the deep cuts in official interest rates combined with the stimulus packages, flexibility in the workplace and a diversified economy.

“We still need to be cautious – it’s a big drop in a single month and these figures can fluctuate significantly, but the result should be a boost to confidence in NSW.” Cartwright said.

“Employers have clearly embraced workplace flexibility as an alternative to cutting staff with 51,500 full time jobs shed since January but 60,000 part time jobs created in the same period.

“These results should not be looked at as an opportunity to pat ourselves on the back – let’s keep working and making it easier to maintain and create jobs.”

Is the drop in unemployment as positive as it seems, or does the significant rise in part time jobs actually point to continuing problems? Share your ideas using the comments form below: