AAP General News (Australia)
08-22-2011
FED:Job losses part of painful adjustment:Swan
Prime Minister Julia Gillard said the government was aware of the pressures the high
Australian dollar had placed on differing sectors of the economy.
Sectors such as manufacturing, tourism and education have slumped as the currency soared
past parity with the greenback.
"We have been talking about patchwork pressures in our economy for months and months
and months," she told reporters.
"This is something we have understood for a long period of time, which is why we calibrated
the May budget in the way we did."
Ms Gillard said the government created the Department for Regional Australia and Regional
Development because of "patchwork pressures" in the national economy.
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KEYWORD: BLUESCOPE FEDERAL 2 CANBERRA
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