NT unemployment rate falls to lowest in the nation as almost 2000 more Territorians find work in April

The NT’s unemployment rate has dipped to below four per cent – the lowest level in the nation – as the NT economy continues to bounce back strongly from the coronavirus pandemic.

THE NT’s unemployment rate has dipped to below four per cent – the lowest level in the nation – as the NT economy continues to bounce back strongly from the coronavirus pandemic.

Labour force data released by the Australian Bureau of Statistics (ABS) today shows the NT’s unemployment rate in April was 3.8 per cent, down from 5.6 per cent in March, with unemployment falling by 1800 people.

New weekly payroll data from the ABS also shows that between March and April, the total number of payroll jobs in the Territory rose by 0.4 per cent and total wages rose by two per cent.

It means since the coronavirus pandemic began in March 2020, payroll jobs have jumped 5.4 per cent and wages have risen 6.4 per cent.

However, the ABS labour force figures show the number of Territorians in work is still 1700 less than it was in April 2020.

They also show that while the number of people in full-time work is at its highest point this year, there are still 1500 less Territorians in full-time work compared to a year ago.

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Charles Darwin University (CDU) Northern Institute political economist Rolf Gerritsen said the NT’s economy was recovering strongly from the COVID-19 pandemic and could continue to grow for some time.

“The economy is relatively strong and it has the potential to continue to be strong for at least 18 months to two years from now,” he said.

“Hospitality and tourism is currently driving the employment rate, and it has unmet demand – it could easily employ more people – and I expect that it will lead employment growth for at least six months.

“But I see the longer term growth for the Territory economy in the resources sector, when a variety of resource projects come online.”

Chamber of Commerce NT chief operating officer Nicole Walsh said the figures were encouraging but didn’t show the full reality for businesses on the ground.

“While it’s great news to see we’re growing and we have the demand there for jobs, businesses are still struggling tremendously with lack of workforce,” she said.

“It’s a serious issue for businesses across the board.”

Nationally, the unemployment rate for April was 5.5 per cent, with the number of people in employment dropping by 37,200 people from March.

After the NT, the next lowest rate was in WA, where unemployment stood at 4.9 per cent.

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Originally published as NT unemployment rate falls to lowest in the nation as almost 2000 more Territorians find work in April