Continuing the trend that has been in place almost every month since the middle of last year, Jobseeker numbers for May have again dropped. Across the nation the number claiming JobSeeker or Youth Allowance (other) in May fell by about 44,000 from April (-3.7% m/m). Queensland saw a 9,200 decline (-3.4% m/m). Totals are now down more than 30% from a year ago.
Cairns also saw a decline for the month (-2.4% m/m) and is down 28.8% y/y. Despite the volatility in the original data the Conus Trend makes the scale, and speed, of the decline apparent.
Yesterday’s labour force data (see here for details) saw another sharp decline in the number of people registering as unemployed, but it is clear that the Jobseeker numbers are still relatively elevated given the level of unemployed; at least some of the COVID-induced distortions in the labour market remain.
The full Conus/CBC Staff Selection Regional Jobseeker Trend and s.a. data for the Queensland regions is available for download below. Please feel free to use this data but kindly acknowledge Conus/CBC Staff Selection when you do.