BPNG: Jobs fell 0.4% in Q3

Business, Main Stories

The National – Thursday, February 17, 2011

THE level of employment in the formal private sector decreased by 0.4% in the September quarter of the year  following an increase of 1.3% during the same period of  the previous year.
This was revealed in Bank of Papua New Guinea’s employment index bulletin for the 2010 September quarter.
Excluding the mineral sector, the level of employment declined by 0.8% in the September quarter, after increasing by 1.2% in the previous quarter, the bulletin said.
By sector, employment dropped in agriculture, forestry, fisheries, transportation, building and construction sectors, while the mineral, manufacturing, wholesale, retail and financial business and other services recorded increases.
While it was visible that there were increased activities and employment in the transportation, building and construction sectors, some of these changes were not captured in the bank’s employment survey.
That was because some of these companies undertaking these works were new and not covered under the survey.
By region, employment fell in all regions, except the National Capital District (NCD) and Morobe.
Over the year to September last year, the total level of employment increased by 0.5%.
Meanwhile, economic indicators available to BPNG showed that the economy continued to grow but at a slower pace in the third quarter last year.
While the value of most export commodities increased as a result of high international prices, there was a decline in the volume of many of the mineral, agriculture, forestry and fisheries exports.