Employment up 0.6% in Q3: Bakani

Business, Normal

THE Central Bank’s employment index for the September quarter last year showed that employment in the formal private sector increased by 0.6% compared to an increase of 1.1% in June quarter.
Excluding the mineral sector, employment increased by 0.6% in the third quarter as against the 1.2% increase in the previous quarter.
By industry, employment increased in the manufacturing, mineral, wholesale, and retail sectors, which more than offset declines in agriculture,forestry,fisheries, building and construction, transportation, financial, business and other services sectors.
BPNG Governor Loi Bakani said in the third quarter report released last week that by region, the National Capital District (NCD), Southern and Momase recorded increases.
“Over the 12 months to September 2009, total employment increased by 3.6% while excluding the mineral sector it increased by 3.8%.”
Quarterly headline inflation, as measured by the consumer price index (CPI), was 1.8% in the third quarter, compared to 0.4% in second quarter.
The increase was in drinks, tobacco and betelnut, food, clothing and footwear, household equipment and operations, transport and communication and miscellaneous expenditure groups.
Annual headline inflation was 5.3% in the third quarter compared to 6.7% in the previous quarter.
The lower inflation outcome was mainly attributed to low imported inflation and prices of seasonal produce.
By region, all urban areas recorded both quarterly and annual price increases in the September quarter.
During the third quarter, the daily average kina exchange rate fell against all major trading currencies except the US dollar compared to the June quarter.
While the kina rose against the US dollar by 4%, or K1  to US$0.3680, it depreciated against the Australian dollar by 5.1%, or K1.05 to A$0.4428.