9.1.2 Extent of underemployment

The ABS estimates that in September 2007 (latest data available) there were 11 700 underemployed workers in Tasmania. This represented a decrease of 21.5 per cent from the number of underemployed workers (14 900) in September 2006. The most recent estimate of underemployed workers represents 5.1 per cent of the number of employed persons, down from 6.7 per cent in September 2006 and nearing the 2010 target of 5.0 per cent.

Goal 10: Thriving and innovative industries driven by a high level of business confidence

10.3.1 Growth in Gross State Product (GSP)

On the basis of ABS estimates of GSP, Tasmania's economy grew by 2.1 per cent in 2006-07 (in real terms), following a 2.8 per cent increase in 2005-06. Tasmania has had a higher growth rate than Australia in two of the past five years.

10.4.1 Export value

The ABS reports that in nominal terms Tasmania's international exports decreased by 2.5 per cent to $3.62 billion in the year to June 2008. This compares with a national growth rate of 6.8 per cent over the same period. In real terms, the value of Tasmania's international exports in 2006-07 was $3.1 billion, an increase of 6.8 per cent over the figure for 2005-06.

10.4.2 Investment

Total private and public investment in the year to March 2008 totalled $4.5 billion in real terms. While this was the lowest total investment figure since the year ending in June 2004, it remains significantly in excess of the real terms average for this series of $2.9 billion.

10.6.1 To increase business confidence

The May 2008 Sensis Business Index reported that business confidence among Tasmanian small and medium-sized businesses was at its lowest level since November 2001, but remained above the national average.

The TCCI's Tasmanian Survey of Business Expectations reported that, in the June quarter 2008, 40.31 per cent of businesses expected economic conditions in the State to remain strong or improve over the next 12 months. This was higher than the equivalent expectations index for the national economy, of 36.98 per cent. While an index score under 50 indicates an anticipated weakening of economic conditions, a large number of Tasmanian businesses still expect economic conditions in the State to remain strong over the next 12 months. It is likely that national factors, such as interest-rates increases, fuel-price rises and higher wage costs and, possibly, international factors such as the tightening of global credit, are contributing to lower business confidence for both the Tasmanian and national economy.

Benchmarks not progressed during 2007-08 because of the unavailability of current data for the indicator

1.1.2 Proportion of households where primary source of income is Government pensions and allowances

In 2005-06, Government pensions and allowances were the primary source of income for 31.5 per cent of Tasmanian households. Data for subsequent years are currently unavailable.

1.1.8 Proportion of retired Tasmanians who rely on Government pensions or allowances as main source of income

In 2004-05, it was estimated that 44.3 per cent of retired Tasmanians rely on Government pensions or allowances as a main source of income. It is expected that updated information on this indicator will become available when more detailed data are released from the 2006 Census.

Benchmarks not progressed during 2007-08 because benchmarking criteria were incomplete

5.5.1 Percentage of 15 to 19-year-olds not employed or in education

In June 2008, the Australian Bureau of Statistics estimated that 11.1 per cent of Tasmanian 15 to 19-year-olds were not employed or in full-time education. The equivalent national figure was 6.9 per cent.

9.1.4 Tasmanian average weekly earnings as a proportion of national average weekly earnings

In the March quarter 2008, the Australian Bureau of Statistics estimated that Tasmanian full-time adult ordinary time earnings represented 90.7 per cent of the equivalent Australian rate, up from 91.7 per cent in March 2007.