ABS cutbacks bad idea
Friday, 4 July 2008 11:45am
The ABS will be cutting back surveys and sampling depth in key economic areas as it meet savings targets outlined in the Federal Budget.
Research and development for labour market, social, prices and demography statistics will be wound back, as will some aspects of State and Territory statistical services such as engagement activities, said Brian Pink Australian Statistician in a statement.
“In the short term, there will be changes to some aspects of ABS work. For example, the ABS Yearbook will not be produced for 2009, the content of the 2011 Census of Population and Housing will not be changed from 2006, Measures of Australia's Progress will be produced on a five yearly rather than a three yearly basis, and a small number of surveys will reduce in sample size or content or not be conducted in 2008 - 09," noted the statement.
The program cut backs are part of the ABS requirement to save $22 million this financial year. They will also be reducing their staff by 180 to help meet their budget targets.
The consequent reduction in sample sizes and frequencies for major economic surveys has however been criticised by market economists as being potentially damaging to their ability to monitor the economy in a time of extreme volatility when rapid access to high quality data will be crucial.
The ABS cut backs coincide with increasing demand for economic statistics particularly from high growth areas like superannuation and investment, for which APRA has statistical data collection responsibility.
Alex Dunnin
This story was found at: http://www.financialstandard.com.au/news/view/23432
Printed: Friday, 21 November 2008 8:05pm