1.3
domestic
The growth rate of
demand has also been
slowing down and the growth rate of retained imports of
consumer goods has continued to decelerate (paragraph 2.11).
Nevertheless, domestic demand and activity in the tertiary
services sectors still probably
economic growth.
The employment situation
1.4
provided the impetus
to
which had
The seasonally adjusted unemployment rate,
been falling throughout 1981, increased slightly in the first
quarter of 1982 to 3.5% (paragraph 4.2). The factors behind
this small increase include more substantial changes in the
demand for labour and the supply of it (paragraphs 4.4 to
4.6). The demand for labour, which had been increasing,
dropped marginally in absolute terms during the six months
ending March 1982, as export demand and consumer demand both
slackened. But the supply of labour also dropped in absolute
terms during the same period as the adverse effect of
immigration on family income subsided (paragraph 4.4).
Despite this, output per head appears to have continued to rise (paragraph 4.7).
1.5
Employment in the
manufacturing sector dropped
slightly during the first quarter (paragraph 4.9) while
employment in the tertiary services sectors continued to
increase. But as inflation continued to ease,
wage rates for
manufacturing workers increased in real terms, as did salaries
in the tertiary services sectors (paragraph 4.13).
Property
1.6
Prices and rentals for property in general were
either the same as or lower than their levels in the second
half of 1981 (paragraph 6.9). Meanwhile,
substantial although less than in the
(paragraph
Building
5.6).
completions remained
first half of 1981
activity
also
2
/ remained
: