Fed: Economic growth picked up: Macfarlane=5

AAP General News (Australia)
08-18-2006
Fed: Economic growth picked up: Macfarlane=5

Mr Macfarlane said pessimism about the rate of growth in NSW, compared to other states,
ignored the fact its unemployment rate was 5.1 per cent - not far above the national average
of 4.8 per cent.

"That suggests there isn't a big problem of people sitting around in NSW not having
jobs," he said.

Mr Macfarlane said he believed some people were moving to states that had more jobs
and cheaper living costs.

"I think there's probably a fair bit of interstate migration going on," he said.

Mr Macfarlane said NSW had often benefited from immigrants.

But WA was markedly increasing its share of new residents from overseas.

"Last year, WA had a bigger percentage increase in employment from immigrants than
any other state," he said.

"Normally, NSW is the one that gets (a) big increase in immigration and then people
fan out to other parts of Australia.

"But I notice now that people are coming directly into WA at a much greater rate than
they have in the past."

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KEYWORD: RBA MACFARLANE 5 CANBERRA

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