Housing and Employment
As of September 2003, the unemployment rate in Sydney was 5.3%. As of March 2008, Sydney has the highest median house price of any Australian capital city at $550890. According to The Economist Intelligence Unit's Worldwide cost of living survey, Sydney is the sixteenth most expensive city in the world.
According to a report published by the OECD in November 2005, Australia has the most overvalued houses in the Western world, with prices 52 percent higher than that justified by rental values.
Read more about this topic: Economy Of Sydney
Famous quotes containing the words housing and, housing and/or employment:
“We have been weakened in our resistance to the professional anti-Communists because we know in our hearts that our so-called democracy has excluded millions of citizens from a normal life and the normal American privileges of health, housing and education.”
—Agnes E. Meyer (1887–1970)
“We have been weakened in our resistance to the professional anti-Communists because we know in our hearts that our so-called democracy has excluded millions of citizens from a normal life and the normal American privileges of health, housing and education.”
—Agnes E. Meyer (1887–1970)
“My job as a reservationist was very routine, computerized ... I had no free will. I was just part of that stupid computer.”
—Beryl Simpson, U.S. employment counselor; former airline reservationist. As quoted in Working, book 2, by Studs Terkel (1973)