The volatile global economic climate is taking its toll on the Hunter, according to new financial indicators.
The high Aussie dollar is hurting the local manufacturing sector, with job ads down 14 per cent in the December quarter.
The data doesn’t include the hundreds of jobs lost in the Hunter’s aluminium industry in the past month.
“Manufacturers, they’re exposed to the international competition and the high Australian dollar will really be struggling, at the moment, throughout 2012 they’re going to have some challenges.” says Simon Deeming, Principal Researcher at the Hunter Valley Research Foundation.
High household debt levels have also curbed spending, impacting on retail.
In contrast, the mining sector is cashing in on the strong dollar, with Newcastle Port seeing record exports.
