Gordon Campbell | Parliament TV | Parliament Today | News Video | Crime | Employers | Housing | Immigration | Legal | Local Govt. | Maori | Welfare | Unions | Youth | Search

 


Struggling economy needs Government focus on jobs

CTU Media Release

20 December 2012

Struggling economy needs Government focus on jobs

“The weak growth of GDP in the September quarter and a revision downwards of the June quarter confirms that the economy is struggling,” says CTU economist, Bill Rosenberg. GDP rose only 0.2 percent in the quarter and the June quarter increase was revised downwards from 0.6 percent to 0.3 percent.

“The economy is not producing enough jobs. A change of Government focus is overdue. The focus should be on creation of good jobs, not a fixation on returning the government books to surplus too quickly. Speeding to a surplus is killing jobs.”

Manufacturing fell significantly in the last three months. “A fall of 1.1 percent in just a quarter confirms that we need to have policies that support manufacturing. It produces many good jobs, and supports 1.7 jobs in the rest of the economy for each one in manufacturing. Manufacturing generates a quarter of the economy’s exports and could do much more with the right support”, says Rosenberg.

“Even the output of primary industry, which is the strongest exporter at present, fell by a huge 3.2 percent in the quarter, though growth has been strong for the year.”

“It is positive to see construction activity increase because it provides jobs in a very depressed sector, and new buildings also lead to demand for materials, appliances and other products in the rest of the economy. However there is little sign of a rebalancing of the economy towards more high value exporting”, Rosenberg said.

“A decline in business investment in plant, machinery and equipment is not a good sign for future job creation. Businesses are running down inventories rather than taking on more staff.”

Flat household expenditure reflects the hard times that many families are experiencing.

“Current Government policies with a focus on a narrow business growth agenda are not addressing the real issues and are not working. It’s time for a new look at the ‘leave it to the market’ policies the government is following”, Rosenberg concluded.

ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Werewolf: John Pilger, And Making War On China

In July, the New Zealand Defence Force is scheduled to join the latest round of Talisman Sabre, a huge training exercise that Australia carries out biennially in conjunction with all four arms of the US military.

Last time around in 2015, New Zealand contributed 650 personnel, 45 vehicles and two of our $NZ771 million dollar fleet of NH90 helicopters to this regional war game.

What’s weird is that Talisman Sabre is actually a rehearsal for an assault on China and its ability to defend itself. More>>

ALSO:

 
 

Urban Planning Report: Momentum Grows To Replace The RMA

A major new report from the Productivity Commission lays the foundation for action on the growing political consensus that the Resource Management Act and associated laws are failing both cities and the natural environment and need a complete rewrite. More>>

ALSO:

Vaping: Quitline Supports Decision To Legalise Nicotine E-Cigarettes

Today Associate Minister of Health, Hon Nicky Wagner has announced that Government are taking the proactive step of legalising nicotine e-cigarettes, a move which Quitline is pleased to hear and support wholeheartedly. More>>

ALSO:

Gordon Campbell: On The Labour/Greens Deal (And The NZDF)

If Labour and the Greens were hoping their Budget Responsibility Rules (BRR) agreement would foster an unlikely alliance then hey… mission accomplished! Because it isn’t every day that Sue Bradford, the CTU and Matthew Hooton speak with one voice, as happened yesterday. More>>

ALSO:

Until After The Election: Extension Of Report-Back Date For Havelock North Inquiry

Attorney-General Christopher Finlayson announced today that the report-back date for the independent Inquiry into Havelock North Drinking-Water has been extended at the request of the Inquiry’s Panel. More>>

ALSO:

Little Heading For Court: Apology Over Donation/Hotel Contract Claims Not Accepted

Today I want to publicly apologise unreservedly to Mr Hagaman for any hurt, embarrassment or adverse reflection on his reputation which may have resulted from my various media statements. I have offered that apology to the Hagamans. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Politics
Search Scoop  
 
 
Powered by Vodafone
NZ independent news