The Winter 2016 edition of the NSW Economic Update presents
a current snapshot of the NSW economy and provides relevant points of
comparison with other Australian States and Territories.
NSW continued to be one of the best performing States in Australia over the last quarter, with Commsec’s July 2016 State of the States Report reporting that NSW retained top rankings on population growth, equipment investment, retail trade, and dwelling starts and added economic growth. Nevertheless, mining investment and housing finance have weakened, while the rate of bankruptcies increased during the quarter.
The Winter 2016 Economic Update also discusses the increasing growth of part-time employment, as opposed to full-time work. While a shift to part-time work is not necessarily a bad thing, some commentators and studies have warned that increasing levels of part-time work may risk exacerbating issues of underemployment, income inequality and job insecurity. While NSW appears to have been less affected than other States by the proportionate decline in full-time employment, issues relating to part-time work are still evident in the State and may be of interest to policymakers.