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Latest economic update presented by Anthea Bill at the July 2014 HRF Breakfast Function.
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INSIGHTS THAT MOVE THE HUNTER REGION FORWARD
The Hunter Region in transition… ECONOMIC UPDATE
Friday, 25 July 2014
INSIGHTS THAT MOVE THE HUNTER REGION FORWARD
Hunter Region, June 2014
THE CHALLENGE OF TRANSITION
REGIONAL OUTLOOK
• Softness in labour market
• Consumer and business sentiment
• New information and communication technology (ICT) survey
• Youth connectedness
INSIGHTS THAT MOVE THE HUNTER REGION FORWARD
Labour Market
EMPLOYMENT
3000
3100
3200
3300
3400
3500
3600
3700
3800
3900
4000
240
250
260
270
280
290
300
310
320
JUN 09 JUN 10 JUN 11 JUN 12 JUN 13 Jun 14
'000
Hunter Employed persons (actual data)
Hunter Three month moving average (trend data)
NSW
NSW, Three month moving average
SOURCE: Australian Bureau of Statistics, Monthly Labour Force Survey
Hunter NSW
HUNTER REGION EMPLOYMENT NUMBERS
INSIGHTS THAT MOVE THE HUNTER REGION FORWARD
Labour Market
UNEMPLOYMENT
2%
3%
4%
5%
6%
7%
8%
JUN 04 JUN 06 JUN 08 JUN 10 JUN 12 Jun 14
SOURCE: Australian Bureau of Statistics, Monthly Labour Force Survey
HUNTER
NSW
HUNTER REGION UNEMPLOYMENT RATE (3 month moving average)
INSIGHTS THAT MOVE THE HUNTER REGION FORWARD
Consumer Confidence
TRENDING DOWNWARDS
INSIGHTS THAT MOVE THE HUNTER REGION FORWARD
Outlook for the Regional Economy
SUBDUED
INSIGHTS THAT MOVE THE HUNTER REGION FORWARD
Information & Communications Technology (ICT)
RESIDENTS INTERNET USE VIA MOBILE
INSIGHTS THAT MOVE THE HUNTER REGION FORWARD
Information & Communications Technology (ICT)
HUNTER BUSINESS
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Internetconnection
Dedicatedwebsite
Advertise goods& services on
website
Marketing viasocial media
Take orders onwebsite
% Hunter businesses with..
Source: HRF, Business Survey June 2014
HUNTER BUSINESS USEAGE OF ICT
INSIGHTS THAT MOVE THE HUNTER REGION FORWARD
Regional Resilience
PARTICIPATION IN EARNING AND LEARNING
INSIGHTS THAT MOVE THE HUNTER REGION FORWARD
In Summary
• Hunter economy faces forces of structural change
• Challenge in ageing population and retaining young people
• Challenge also in building a knowledge economy: sectors in transition, skilling and retaining young people, maximising returns from the ‘digital economy’
• Urban renewal may assist
INSIGHTS THAT MOVE THE HUNTER REGION FORWARD
INSIGHTS THAT MOVE THE HUNTER REGION FORWARD
Thank you
