MEDIA RELEASE - Macarthur's Economy Remains Resilient
3 September 2008
Unemployment in Macarthur fell by 0.7 percentage point in the March Quarter 2008 to 5.2%. This is the second consecutive quarterly decline in the unemployment rate.
There were 7,074 jobless persons in the March Quarter 2008, but this number was 23.9% less than the figure 12 months ago.
MACROC President, Cr Rob Elliott, said it was pleasing to see the unemployment rate fall despite the increase in the size of the labour force.
“This is an unmistakable sign that the Macarthur region’s economy is resilient against the background of emerging softness in the global and national economy,” Cr Elliott said.
Median weekly rents for all property types rose in the June quarter 2008 in line with the general rise in rents in the rest of New South Wales.
The total value of development approvals for all building types grew by 57.1% to $116.6 million in the June 2008 quarter, representing an annual rise of 45.5%.
“This growth is encouraging and it presages a rise in the level of investment and job opportunities in the future, Cr Elliott said
Every quarter, MACROC publishes the Macarthur Economic Profile to keep businesses and residents informed of current economic conditions and emerging trends in the Macarthur region. The document can be downloaded from the MACROC website at www.macroc.nsw.gov.au (under Reports/Projects, Quarterly Economic Reports).
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