Cairns Trend employment up but unemployment rate also lifts as participation soars

The Conus/CBC Staff Selection Trend data for June shows employment in Cairns lifted to another new record high with an additional 500 people in work since last month. The annual increase is now 10,800, or 8.3%.

However, despite the lift in the number employed a jump in participation to another record high 72.1% saw the Trend unemployment rate move higher (for the 7th consecutive month) to 5.4%. The recent surge in participation is coming from both males and females although when considered over the longer term it is female participation that has been leading the move higher (as is the case across most of the country).

The scale of the challenge for the unemployment rate to stay low in the face of such a ramp up in participation can be seen when we consider the change in the size of the labour force just over the course of this year. While those employed has lifted by 4,300 since Jan the number of those unemployed is also up (+2,100) resulting in a total increase to the labour force of 6,400 in the past 5 months. Had the participation rate remained unchanged since Jan 2022 (ie at 69.3%), and the level of employment we now see were still the case, then the unemployment rate would be just 1.7%!

The complete Conus/CBC Staff Selection Regional Employment Trend and s.a. data for Queensland is available for download below. Please feel free to use this data but kindly acknowledge Conus/CBC Staff Selection when you do so.

Conus/CBC Staff Selection Regional Employment Trend & s.a. QLD – June 2022

 

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