GFC cuts women out of jobs
WOMEN have been the biggest losers in the Northern Rivers labour market in the last five years, holding 1000 fewer jobs than this time in 2007, according to the latest ABS data.
Adjunct Professor at the University of Canberra and Goonellabah resident Lawson Savery said the global financial crisis and its aftermath remained a toxic influence on the health of the local labour market.
"In 2007 we were a destination for Sydney self-funded retirees coming here for a seachange, and at that time they were spending a lot of money in cafes and restaurants, but when the GFC hit they cut back on their spending."
"These tend to be high female employment areas."
Prof Savery also described northern NSW as living in the shadow of Queensland, due to higher transport costs and payroll taxes than those of our northern neighbours.
"Economically we are tied to south-east Queensland but we don't have the advantages that they have."
The higher transport costs are due to stricter weight limits imposed on trucks travelling in NSW, translating into higher produce costs in NSW.
Prof Savery said Federal Treasurer Wayne Swan's promise to bring the Federal budget back into surplus in the next 12 months would not help the situation, given the Treasurer has to turn a $40 billion deficit to a surplus, a feat never before achieved.