The ABS regional labour force data for Feb were released yesterday and, after analysis via the Conus Trend they show Trend employment growth in Cairns having come to a halt.
Despite an original unadjusted figure which showed an increase of 600 the Conus Trend saw Trend employment remain static at 108,700 while growth in Jan was revised down to 300 (from 500). This saw the Trend unemployment rate edge higher to 7.6% (after Jan was revised higher to 7.5%). Over the course of the past 12 months Trend employment has grown by 2,000 in Cairns and, with Trend Participation virtually unchanged, this has been just about sufficient to keep the Trend unemployment rate stable.
To our south things are looking worse. In Townsville Trend employment fell by 300 after Jan was revised to a fall of 200. In the past 12 months Trend employment has fallen by 8,400 in Townsville but the Trend Participation Rate has fallen sharply from 66.5 to 61.2 and this has allowed the Trend unemployment rate to remain fairly stable. In Feb the Trend unemployment rate edged higher to 7.9% after Jan was revised to 7.8%.
Youth Trend unemployment in Cairns continues to be a major concern with the Conus Trend at 27.5% in Feb (up from 25.7% in Jan). The older (45+) cohort Trend unemployment rate fell to 3.9% from 4.3%.
As always, the full Conus Trend data set for all Queensland regions is available for download below. Please feel free to use this data as you wish but we would appreciate you acknowledging Conus if you do so.
QLD Regions Jobs data – Conus Trend Feb 2016