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A report showing falling unemployment and strong job growth in the region, which includes Wairarapa, is cheering mid-winter news, says Wairarapa MP, Georgina Beyer.
She was commenting on the release today of the Department of Labour's half yearly regional labour market report for its Central region which stretches from Wairarapa to central Hawkes Bay and across to Manawatu.
"This report shows unemployment in Central at 4.7 percent in March after another fall, the third lowest regional rate in the country Two years ago, it afflicted 6.3 percent of the labour force - with all the downsides that brought for our communities," said Georgina Beyer.
Helping to reduce unemployment has been solid job growth, up 4.7 percent in the year to March. Most new jobs appear to have emerged in the primary sector, construction and trade/hospitality.
"What better measure of a region that's going places than job growth," said Georgina Beyer. "The report says there's been strong jobs expansion over the last three years, averaging 4.8 percent - the highest in the country."
The central region economy grew 3.5 percent in the year to March but local firms had low levels of confidence for the year ahead. The report suggests while this reflects the struggling world economy and higher currency there is an 'over-reaction' to events which have eased - the war in Iraq, SARS and the electricity crisis.
Confidence is expected to recover later this year and job growth to continue at weaker levels. Unemployment benefit numbers are tipped to remain steady.
Georgina Beyer says a cautious tone is appropriate.
"As a government we are certainly predicting that the strong economic growth we've all been enjoying will moderate in the year to next March before rebounding.
"This report confirms our region is buoyant and well-placed to deal with any turbulence from the world's economic problems," said Georgina Beyer.
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