The July ABS Labour Force data released this morning allows us to update the Conus/CBC Staff Selection Regional Employment Trend data for all of Queensland’s regions.
Despite the (seasonally adjusted) employment data at the State level showing a decline in employment of 6,200 for the month, Cairns managed to record an increase of 300, and Townsville an increase of 700, to Trend employment levels (both new record highs).
The Trend unemployment rate in Cairns now sits at 4.8% while in Townsville it has fallen even further to 3.0% (very close to an all-time low). The increases in Participation seen across both regions in recent months (since July last year Cairns +5.1 ppts and Townsville +5.5 ppts) has been extraordinary as the strong labour market pulls people into the labour force. The impact this increase in participation has had can be clearly appreciated if we consider that, had the Participation Rate in Cairns remained at its level of December 2021, then the current level of employment would equate to an unemployment rate of just 0.9%!
The full Conus/CBC Staff Selection Regional Employment Trend data set for QLD regions is available for download below. Please feel free to use this data but kindly acknowledge Conus/CBC Staff Selection when you do so.