Private sector employment falls by 2.6pc

EMPLOYMENT in the formal private sector fell by 2.6 per cent in the September quarter of last year, according to the Bank of PNG.
Governor Loi Bakani stated this in the bank’s Quarterly Economic Bulletin for the September quarter released yesterday.
“Excluding the mineral sector, the level of employment declined by 2.8 per cent,” he said.
“By sector, the level of employment declined in the financial/business and other services, agriculture/fishery/forestry (AFF) and mineral sectors.
“It increased in the wholesale, construction, manufacturing, retail and transportation sectors.
“By region, the level of employment declined in all centres.
“Over the year to September 2019, the total level of employment increased by 1.8 per cent, compared to a decline of 2.0 per cent in the corresponding period of 2018.
“Excluding the mineral sector, employment fell by 0.7 per cent over the year to September 2019, compared to a decline of 2.3 per cent in the corresponding period of 2018.”