November saw another strong month for labour force data. Employment (seasonally adjusted) jumped by 61,600 (expectations had been for around 19,000) with 41,900 of those being full-time. Over the course of the past 12 months employment has increased by 383,300 of which 79.5% have come in the full-time jobs. The headline unemployment rate remained stable […]
About Pete Faulkner
Pete is our economics and business modelling guru. He was an investment banker in the City of London for 15 years after completing an International Finance and Banking degree. Starting as a bond dealer in the heady days of the 1980’s Pete progressed to become an Executive Director in the investment banking arm of one of the world’s largest banks. He ran a team of dealers, sales-people, derivative experts and economists. Pete’s experience in running teams and managing people has proved to be a valuable resource for our clients via our mentoring program.
Pete loves economics and particularly enjoys explaining it to those for whom it has always been a bit of a “black art”. He has a way of getting complex ideas across in easy to understand ways that have won him many fans in the regional business world. His blog is read by business leaders, politicians, economists, journalists and a wide range of business owners.
Entries by Pete Faulkner
Pete spoke to John MacKenzie on radio 4CA this morning about a couple of articles in The Cairns Post regarding employment in the region as well as preparing your business for the coming storm season. You can listen to the interview below.
The weak growth in international visitors to TNQ (see below) has seen declines in most of our major markets. Japan fell by 1.1% in the year to Sept 2017, China was down 0.5%, the US dropped a thumping 4.8% (after some impressive improvements in previous quarters) while the UK managed a 3.5% increase.
The Sept 2017 International Visitor Survey from Tourism Research Australia (available for download here) makes for unhappy reading for the Queensland and the TNQ region in particular. While total international visitors to Australia rose by 7.3% for the year to Sept 2017, the increase was just 3.0% for Queensland and a very lack-lustre 1.5% increase […]
Regular readers will be well aware that there are various ways to look at the labour market; the standard “unemployment rate” being just one of them. Another, less well known measure, is provided by way of the Dept of Social Services data in their monthly payment recipients release (available here). When looking at the data […]
The GDP data for the 3rd quarter of 2017 has come in slightly below market expectations at +0.6% q/q (after Q2 was revised slightly higher to +0.9% from +0.8%) for a 2.8% y/y and 2.2% annual growth. The weaker data was due to a poor showing from household consumption (the largest component of GDP) which […]
The ABS data for building approvals in October were good news at a national level with (seasonally adjusted) approvals up 0.9% m/m for a 18.4% increase year-on-year. The less volatile (and preferred, given how volatile unit approvals can make this data set!) measure showed a 0.7% m/m increase and a gain of 4.2% for the […]
This morning’s release of the regional labour market data, as always, needs to be seen through the lens of the Conus Trend; and what it shows is something of a turn-around in the dramatic recovery that we’ve been witnessing in the North. This is perhaps not very surprising, although the fact that some of this […]
As we run towards the last few days of the Queensland state election we’re hearing lots about employment from both the Government (who are talking up solid jobs growth) and the Opposition (who are highlighting weak full-time jobs). There is also a certain amount of talk from the commentariat about how the jobs growth in […]
Pete spoke to John McCarthy on radio 4CA this morning about yesterday’s release of the labour force data which showed QLD’s unemployment rate (s.a) lifted to 6%. You can hear what he said below, or read yesterday’s blog here.