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The official unemployment rate in February fell to 4.0% (from 4.2%) with the national economy adding another 77,400 to those employed (after a strong upward revision to the Jan data). The number of people employed in full-time employment also jumped, up 121,900, Participation also moved higher (to 66.4%). Adding to the strong set of numbers was the fact that hours worked per capita also rose strongly (after a sharp declined last month on the back of illness related issues). Employment growth across Australia is now running at 3.1% y/y.
The data for Queensland was also strong. Employment lifted 14,500 (with 23,200 new full-time employed), participation was up to 66.7% and the unemployment rate fell once again to 4.3%. Here too hours worked were strong, reversing last month’s declines, and employment growth is now running at 4.2% y/y.
Employment in Queensland is running well ahead of the growth in the size of the working population and in the past 6 months has erased an employment shortfall which had been in place across the State since the middle of 2012.
As is the case across the country, female workers have been at the forefront of the growth. Female participation in QLD now sits at record highs (true for the past few months) while male participation is down almost 5ppts from its highs of 15 years ago.
Original regional data will be released by the ABS next week at which time we will update our Conus/CBC Staff Selection Regional Trend and s.a. data-set.
We are proud to have CBC Staff Selection as supporters of the Conus/CBC Staff Selection Trend Employment and Jobseeker data series