Sunday, January 10, 2016 (Sunday Chronicle, PNG)
THE last quarter of 2015 saw a drop in employment figures in the private sector.
According to the Bank of Papua New Guinea’s September Quarterly Economic Bulletin report of 2015 the formal private sector declined by 3.4 percent in the September quarter of 2015, compared to an increase of 2.6 percent in the June quarter of 2015.
Excluding the mineral sector, the employment level decreased by 3.5 percent.
There were declines in the construction, agriculture/forestry/fisheries, manufacturing, finance/business and other services sectors. By region, employment declined in the Southern, Highlands, National Capital District and New Guinea Islands while it increased in Morobe and Momase.
Over the twelve months to September 2015, the total level of employment declined by 2.6 percent, while excluding the mineral sector, it declined by 2.8 percent.
BPNG Governor, Loi Bakani, noted that quarterly headline inflation, as measured by the Consumer Price Index (CPI), increased by 1.7 percent in the September quarter of 2015, compared to an increase of 1.1 percent in the June quarter.
There were price increases in the Housing, Alcoholic beverages, tobacco, and betelnut, Clothing and footwear, Household Equipment, Food & Non-Alcoholic Beverages, and Restaurants & hotels’ expenditure groups.
The Transport, ‘Miscellaneous, and Recreation expenditure groups recorded declines, while the Communications, Health, Education 5 recorded no price change.
By urban centre, prices increased in all centres. The annual headline inflation was 5.8 percent in September 2015, compared to 5.7 percent in the June quarter.
According to the Bank of Papua New Guinea’s September Quarterly Economic Bulletin report of 2015 the formal private sector declined by 3.4 percent in the September quarter of 2015, compared to an increase of 2.6 percent in the June quarter of 2015.
Excluding the mineral sector, the employment level decreased by 3.5 percent.
There were declines in the construction, agriculture/forestry/fisheries, manufacturing, finance/business and other services sectors. By region, employment declined in the Southern, Highlands, National Capital District and New Guinea Islands while it increased in Morobe and Momase.
Over the twelve months to September 2015, the total level of employment declined by 2.6 percent, while excluding the mineral sector, it declined by 2.8 percent.
BPNG Governor, Loi Bakani, noted that quarterly headline inflation, as measured by the Consumer Price Index (CPI), increased by 1.7 percent in the September quarter of 2015, compared to an increase of 1.1 percent in the June quarter.
There were price increases in the Housing, Alcoholic beverages, tobacco, and betelnut, Clothing and footwear, Household Equipment, Food & Non-Alcoholic Beverages, and Restaurants & hotels’ expenditure groups.
The Transport, ‘Miscellaneous, and Recreation expenditure groups recorded declines, while the Communications, Health, Education 5 recorded no price change.
By urban centre, prices increased in all centres. The annual headline inflation was 5.8 percent in September 2015, compared to 5.7 percent in the June quarter.
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