The Premier, Lara Giddings, said modest growth recorded in
today's ABS retail trade figures should be the beginning of better times ahead
for retailers as interest rates begin ease.

 

Ms Giddings said that retail trade was up by 0.1 per cent in
March 2012 to reach $434.1 million in trend
terms.

 

"While retail trade has been soft in recent months, it remains
1.5 per cent higher over the same period last year," Ms Giddings
said.

 

"More importantly the outlook for retail spending has improved
significantly with the recent rate cuts by the RBA and the prospect of further
cuts in coming months.

 

"Australian consumers are still very cautious, reflecting
concerns about debt, including the volatile situation in Europe and a weaker
jobs market.

 

"But with the impact of the rate cuts yet to take full effect I
hope that consumers will be confident enough to make use of additional
disposable income and get out and support their local
businesses.

 

"Tasmanian retailers have remained resilient through the tough
times and they are now well placed to take advantage of new growth opportunities
as conditions start to improve, Ms Giddings
said.

 

Building Approvals
Return to Growth

 

Ms Giddings said that while building approvals in Tasmania
remain weak the number of buildings approved has now increased for three
consecutive months.

 

"There are tentative signs that the outlook for the building
sector is improving and certainly recent rate cuts will make construction much
more affordable.

 

"I am also confident that our land use planning reforms,
particularly the single residential code, will make future approvals a much more
timely process."

ANZ Job
Advertisements

 

Despite the improvements in retail and building approvals, Ms
Giddings acknowledged that the jobs market remained
tough.

 

"I have never shied away from acknowledging that our
unemployment rate is too high and today's ANZ newspaper job advertisements
highlight the ongoing labour market challenges of the non-mining
states.

 

"The trend number of newspaper job advertisements has declined
across the nation, with the larger falls occurring in NSW, VIC, SA, TAS and the
ACT.

 

"Newspaper job advertisements in Tasmania averaged some 321 jobs
per week in April, down 4.2 per cent. However, it is important to note that
newspaper ads don't tell the whole story, given the rapid move towards online
advertising," Ms Giddings said.