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Last month we reported a slight decline (-100) in the number of Trend employment in Cairns after a run of nine positive months. This month we have seen that decline revised away and we see an additional 600 added to Trend employment and the run of positive months extended to 11.
This revision has also seen the unemployment rate revised down to 4.6% where it remains this month. Trend employment growth has improved to 4.2% y/y which is well above State (3.6%) and National (2.7%) rates of growth. However, we must note that this growth has come exclusively from part-time positions (+10,000 over the year) while full-time positions have declined (-4,100). In particular this shift has been driven within the female cohort where full-time employment has fallen 6,400 over the year while part-time employment is up 9,900.
The February Trend unemployment rate sits at 4.6% (up from 3.0% in July) which remains higher than the State level (4.0%). We are certainly seeing a very gradual easing in labour market conditions in Cairns in recent months (as has been the case at both State and National levels) although it also remains true that employment growth is still quite robust in general.
The complete Conus/CBC Staff Selection Regional Employment Trend for Queensland regions is available for download here.
We are proud to have CBC Staff Selection as supporters of the Conus/CBC Staff Selection Trend Employment and Jobseeker data series