The ABS regional labour force data needs to be seen through the lens of the Conus/CBC Staff Selection Trend to make much sense of the highly volatile original data. Today’s release of the data for June shows the Trend unemployment rate in Cairns dipping to 6.5% (from a downwardly revised 6.9% last month) with the addition of 300 to Trend employment. The Trend median duration of the search for work also dropped to 17 weeks (the same level as the QLD average).
Unfortunately the increase in employment has come exclusively from part-time positions (which were up 1,000) while full-time employment dipped 700. Over the course of the year the Trend employment growth rate has now fallen to -6.0%, versus +2.6% at both the QLD and Australia level.
Trend youth unemployment has fallen to 12.6% (about the same level as the Rest of Queensland average).
To our south in Townsville the recovery continues with Trend employment adding another 700 in June and taking the unemployment rate down to 8.7% (its lowest level since Oct last year. Both full-time (+500) and part-time employment (+300) saw modest gains. Trend annual employment growth in the region now sits at +3.8%.
The full set of Trend data is available below for download. Feel free to use this but please ensure that you acknowledge it as “Conus/CBC Staff Selection Employment Trend” data when you do so.
Conus/CBC Staff Selection Regional Employment Trend QLD – June 2018