Fed: Jobs boom divides the nation

AAP General News (Australia)
12-16-1999
Fed: Jobs boom divides the nation

Long-term unemployment fell sharply in November to the lowest level in more than eight
years, as skilled vacancies hit a 10-year high and home building soared.

But Australian Bureau of Statistics figures confirm the economic boom is opening a
massive gulf across the nation.

Parts of Sydney now have a jobless rate below two per cent, while north-west Tasmania
has 13 per cent unemployment.

The ABS says 188,600 people were listed as being out of work for 12 months or more
in November, seasonally adjusted - down 11,700 for the month and the lowest number since
June 1991.

And further improvements are likely, with skilled job vacancies rising 1.1 per cent
in December to the highest level for a decade.

Further evidence the economy is gathering pace comes with the surge in new housing
starts in the September quarter, which soared 14.8 per cent to the highest level in five
years.

But the economic boom is also reigniting inflation fears - the Westpac/Melbourne Institute
survey's found consumer expectations for inflation rose to 5.4 per cent in September.

AAP RTV ss/kbw/jn

KEYWORD: JOBS (CANBERRA)

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