NT economy bucks national downward trend
Posted
A nationwide study shows Northern Territory businesses are faring better than their southern counterparts in Australia's economic downturn.
The August Sensis Business Report found that only five per cent of Territory small businesses have experienced a profit downturn in the last month, compared to a nationwide average of 40 percent.
The paper's author, Christena Singh, says the strength of the resources boom is keeping consumer demand high.
"What we are seeing is the highest levels of sales and profitability in the Northern Territory, and they are two of the most important key indicators for small business, and they are higher than any other state or territory.
"At the moment, businesses [across the country] have found that staff levels are declining, when we asked them why that was, most places in Australia are saying that is is because they have had to get rid of staff because of the economic climate.
"In the Northern Territory the issue is completely different, the issue is still really trying to find staff, staff have resigned for other jobs."
The head of the Northern Territory Chamber of Commerce Chris Young says the housing crisis is to blame for staff shortages.
"The tight retail market for housing right now it is making it very difficult for people to come up from down south and get themselves settled anywhere, not only just in Darwin but in the regions as well."
