Monday, December 5, 2011

$12 for a toasted sandwich

The Sydney Morning Herald has an interesting feature on the two-speed economy of booming WA:

But the truth is that the so-called patchwork economy is not neatly divided along state borders. It is a region-by-region, suburb-by-suburb proposition that is affecting Western Australia just as dramatically as the non-mining states.
A quick look at the ABS data shows the unemployment rate in the sluggish Lower Western region at 5.1%. Which sounds fine but is still well above the 3.9% average for the state. Back in 2007/8 Lower Western was recording numbers lower than 3% and it has recently been as high as 7% in the typically volatile regional data.

Meanwhile a toasted sandwich is $12 in Karratha and the price of a coffee in Perth is well above Melbourne. I can only wonder how that 114 luxury apartment development in Karratha is going for insurance?

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