Today’s release by the ABS of regional jobs data, and our own Conus Trend analysis of that unadjusted data, shows Cairns powering ahead with the Trend unemployment rate falling to 5.3%. This is the lowest rate the region has seen since September 2008. Trend jobs have increased by 1,300 since May and are up 12,700 on the year. Of those 7,800 have come in full-time positions with the Trend Participation rate increasing to 63.0, its highest level since October 2013.
Townsville, despite adding just 900 more jobs this month, sees Trend unemployment at 7.5% (down from 7.8% in May, although this was revised sharply higher from 6.3% in original estimates). Over the past year Townsville has added 13,400 new Trend jobs (coming from a low base) with 10,000 of those being full-time.
The regions generally have done better than Greater Brisbane with the Trend unemployment rate in the Rest of Qld falling to 6.0% while Greater Brisbane has risen to 6.7% (Trend rates in Qld now stand at 6.3% and 5.6% across the nation). Over the year the Rest of Queensland has added 31,700 new jobs (22,300 of which have been full-time) while Greater Brisbane has added just 11,700 new Trend jobs (while losing 8,200 full-time jobs).
The employment to population ratios in both Cairns and Townsville show the significant recovery the 2 regions have seen over the past year.
Note..CORRECTED. Youth unemployment in Cairns has risen slightly to 12.6% (although May’s number was revised down from 12.5%) with the addition of 3,400 youth jobs over the past year. Youth unemployment in Townsville has dipped to 18.4% (after May was revised up to 18.9%) although the region has lost 800 Trend youth jobs in the year.
The full set of Conus Trend Jobs for the Qld regions is available for download below. Please feel free to use this data (for non-commercial purposes) but we would appreciate you acknowledging Conus when you do so.