Rudd Government’s high interest rate strategy will cut economic growth and threaten local jobs
March 5, 2007
The Rudd Government’s high interest rate strategy which aims to reduce economic growth could have the added effect of costing jobs on the North Coast, The Nationals Federal Member for Cowper, Luke Hartsuyker, said today.
Mr Hartsuyker was commenting following the release of the latest unemployment figures for the September 2007 quarter where there was a decrease in the local unemployment rate for the tenth consecutive quarter.
The latest figures released by the Department Of Employment and Workplace Relations show that unemployment fell in all local government areas in the Federal electorate of Cowper.
|
Town |
Sept 2005 |
Sept 2006 |
June 2007 |
Sept 2007 |
|
Bellingen |
11.6% |
9.8% |
8.5% |
8.0% |
|
Coffs Harbour (A) |
9.6% |
8.6% |
7.5% |
7.1% |
|
Coffs Harbour (B) |
9.4% |
8.3% |
7.4% |
7.1% |
|
Grafton |
8.3% |
7.4% |
6.6% |
6.4% |
|
Maclean |
10.1% |
8.7% |
7.8% |
7.5% |
|
Nambucca |
14.6% |
13% |
11.0% |
10.4% |
|
Kempsey |
11.2% |
9.8% |
9.1% |
8.8% |
“The ongoing drop in unemployment is very welcome and reflects the strong commitment to job creation by the previous Coalition Government.
“What is so pleasing is that the local unemployment rate has been trending down since the beginning of 2005.”
Mr Hartsuyker said this trend was now under threat from Rudd Labor Government.
“What we have now is the Prime Minister Kevin Rudd and Treasurer Wayne Swan egging the Reserve Bank to put up interest rates in order to slow economic growth.
“They are talking up interest rate rises in order to put pressure on the Reserve Bank and working families are paying the price.”
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