The ABS today released Payrolls data for the week to 19th June which showed Queensland’s performance was now 0.5 ppts better than the national average (103.9 versus 103.4). By considering the Payrolls data by Industry Sector and weighting this by the percentage of employment within each Industry Sector (from the quarterly Industry Sector Employment data to May) we can get an idea of which sectors have been doing well, and which worse, in Queensland relative to the nation as a whole.
What this shows is that there are 3 sectors where Queensland’s better performance has had a material impact on the total Payrolls numbers;
There were 8 other sectors with positive contributions summing to 0.58 ppts.
There was only one sector that had a material underperformance, Healthcare & Social Services which subtracted 0.63 ppts (Index QLD 103.1, AUS 107.8). There were 7 other sectors with negative contributions summing to just 0.38 ppts.
Payrolls in Cairns continue to lag behind those at the State and National level, although the gap has closed slightly in recent weeks. The 4-week moving average in Cairns now sits 1.5% that in Queensland; it has been as wide as 2.1% earlier in the year.