The Crest of the Commonwealth of Australia Treasury Portfolio Ministers
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Nick Sherry

Assistant Treasurer

9 June 2009 - 14 September 2010

Media Release of 23/12/2009

NO.119

Figures Show Tasmania Can Look to a Hopeful 2010

Assistant Treasurer and Labor Senator for Tasmania, Nick Sherry, says the latest State and national economic figures point to a hopeful 2010 for Tasmania – which is leading the rest of Australia on several fronts.

"The Australian National Accounts for the September quarter showed Tasmania had an annual growth rate 1.4% - equal strongest among the states and higher than national GDP of 1.1%," the Assistant Treasurer said.

"The brighter outlook for 2010, particularly for job prospects, is also shown in the State's Preliminary Mid-Year Financial Report released by the Bartlett Government this week."

"As Assistant Treasurer, it is great to see Australia has continued to grow during the global recession."

"As a Tasmanian, I'm happy and proud and see our State performing so well in these difficult times."

"The current unemployment rate in Tasmania stands at 5.4% - which is below the national average of 5.7%."

"The State's Preliminary Mid-Year Financial Report forecasts there will be more jobs in 2009-10 than was expected at Budget time this year."

"Employment levels will fall by 1.5 per cent in 2009-10 compared to the previous estimate of 2 per cent, with average unemployment for the year at 5.25 per cent compared to 7 per cent forecast at Budget time."

"The National Accounts, jobs figures and other recent surveys reflect well on Tasmania - but there is still a long way to go before we can say the global downturn is over."

"I know in my local area in Northern and North-west Tasmania, there have been recent announcements of closures and job losses."

"The Rudd Government is moving fast to support long-term, sustainable employment in the North-West and Tasmania as a whole."

"The Australian and Tasmanian Governments are providing $20 million in funding to stimulate innovation, investment and jobs in North West and Northern Tasmania."

"The Rudd Government's stimulus strategy is supporting Australian and local Tasmanian jobs and businesses in these difficult times and is designed to continue to cushion the economy from the worst effects of the global recession."

"As 2010 approaches, the world is still feeling the effects of the 2008 global financial and economic crisis."

"Our State's economic performance should reassure Tasmanians we are faring comparatively well through these tough times and hopefully there will be even better news to report next Christmas."

"Merry Christmas and a Happy and Safe New Year to all."

CANBERRA
23 December 2009