NSW faces grim year, union says

Unions NSW says it's fielding fresh reports about job losses in NSW on an almost daily basis and is demanding political action to stem the flow.

The body, which represents more than 600,000 union members, is warning of a grim year ahead for workers, pointing to fresh job losses and rising mortgage costs.

"The year ahead is looking grim for working people, due to job cuts and rising mortgage costs," Unions NSW secretary Mark Lennon said in a statement on Tuesday.

"The premier promised to create 100,000 new jobs but as yet all we've seen are lay-offs and cut backs."

Mr Lennon said he had asked Premier Barry O'Farrell for an urgent meeting to discuss the issue but received no reply.

It comes after ANZ Banking Group announced on Monday it was cutting 1000 jobs from its 24,000-strong Australian workforce.

Westpac announced on February 3 it was shedding 560 jobs.

Bedding chain Sleep City was placed in administration on Monday amid a continuing downturn in the retail market.

And hundreds of workers stand to lose their jobs with one of Australia's oldest building firms, Kell & Rigby, going into administration last week.

NSW Treasurer Mike Baird warned on Monday the state's economy faced significant challenges in 2012.

He said in a February economic update that industries affected by the high Aussie dollar would continue to suffer because of ongoing economic uncertainty.

But he also pointed to increased retail spending, job creation, improved business confidence and two official interest rate cuts by the Reserve Bank.

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