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Legislative Assembly for the ACT: 1997 Week 12 Hansard (12 November) . . Page.. 4022 ..

MRS CARNELL (continuing):

Also encouraging is the fact that strong growth areas include information technology and that most of the increasing demand is coming from the small- to medium-size businesses. This Government has unashamedly sought to stimulate growth in the information technology industry and to support small- to medium-size businesses through our various employment and business programs - those same employment and business programs that those opposite just love to have a go at or to criticise. What we are seeing is a strategy that, clearly, is bearing fruit.

Also produced today was the monthly EL executive demand index, which found that the total demand for executives in the ACT increased by a massive 37 per cent in October. Once again, information technology showed strong growth, along with the finance sector, engineering and management. It is worth reflecting here that yesterday we had the Opposition arguing that we should rebuild the wall and try to isolate the ACT when it comes to hiring executives, that we should not be in the market at all. They want to go back to the appalling record that they had in government whereby merit selection was shunned. When you see figures indicating a 37 per cent increase in executive demand in the ACT in just one month, you have to wonder about the wisdom of isolating the ACT and refusing to hire from interstate. Again you can see just what a mess this place would be in if we went back to the bad old days of those opposite.

The third labour market assessment was released by the Commonwealth Department of Employment, Education, Training and Youth Affairs, DEETYA, and revealed a sharp decline in unemployment in the ACT from June 1996 to June 1997. The drop was even more dramatic when you look at the trend from March this year, when unemployment was at 8.2 per cent - - -

Mr Whitecross: It was 8.4.

MRS CARNELL: Not at all. It dropped by June to 6.8 per cent under the DEETYA figures. In the same period the actual number of people unemployed dropped by more than 2,500. Mr Speaker, all of these surveys are consistent, and they all point to a strong rebound in the local economy over the last year, following the recession in 1996 which was brought about by Commonwealth spending cuts.

They are also consistent with a raft of other economic indicators, including gross State product, which has shown two consecutive quarters of increase; retail trade, where the ACT is posting the strongest growth in the country; new motor vehicle registrations, which have recorded 11 consecutive months of growth; and job advertisements, which are also growing very strongly. On top of that we have seen 6,100 new full-time jobs created in the ACT since last November, according to the ABS labour market data. All of the indicators are pointing in the direction of economic recovery. This Government, unlike those opposite, continues to focus on jobs and business growth as the key issues for the ACT.

Ms McRae: Ho, hum!

MRS CARNELL: Ms McRae says, "Ho, hum!".

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