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Welcome to our July update on the Cairns labor market. We’re now four months into using the ABS’s Enhanced Regional Labour Force data, and it’s proving to be a game-changer. This more robust dataset is giving us clearer insights into employment trends, helping us paint a more accurate picture of what’s happening in our region.
The good news? Cairns is on a roll. We’ve seen positive job growth stretching all the way back to 2020, and July kept the streak alive with 400 new jobs. Over the past year, we’ve added an impressive 5,500 positions to the local economy. Even better, this month’s growth was all in full-time roles – a sign of increasing economic confidence.
Now, here’s where it gets interesting. Despite adding 5,500 jobs over the year, we’ve also seen 400 more people listed as unemployed. Sounds counterintuitive, right? Well, there’s more to the story:
So, while we’re growing jobs at a healthy 3.8% per year (outpacing the national rate of 2.9%), our unemployment rate has only eased slightly this year.
July’s Trend unemployment rate stayed put at 4.4%, down from 4.7% at the start of the year. We’re slightly above the state average of 4.2%, but here’s the kicker – we held steady this month, and have been slowing falling since January, while both state and national rates have crept up. Not too shabby!
The overall picture? Things are tight. Since the beginning of 2024, we’ve added 5,500 full-time jobs while losing 1,700 part-time positions. This shift towards full-time work is typically a sign of a strong labor market.
In a nutshell, Cairns is showing resilience and adaptability. We’re growing, we’re changing, and we’re holding our own in a challenging economic environment. As always, we’ll keep our finger on the pulse and keep you updated on how these trends develop.
We are proud to have CBC Staff Selection as supporters of the Conus/CBC Staff Selection Trend Employment and Jobseeker data series