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The quarterly Labour Account data from the ABS showed that in the year to June 2024 average income across Australia grew at 2.8% yy. In Queensland (based on Conus analysis of the Labour Account and the split of industry employment relative to the nation) we estimate the figure was a healthier 3.3% yy. However, in Cairns growth was estimated at just 3.0%.
As the chart below makes clear, the sector contributing the most to growth at national, state and regional levels was Accommodation & Food Services. This sector saw average income growth of 14.4% yy which contributed between 0.9 and 1.2 ppts. Average incomes in Agriculture (where Cairns has a relatively high percentage of employment) fell 12.2% yy and this sector’s over-weighting in Cairns accounts for some of the region’s slight underperformance relative to Queensland. Information Technology was another underperforming sector for Cairns; across Australia and Queensland the sectors’ average income growth of 10.2% yy added 0.1 ppts but in Cairns (where there is relatively little employment in the sector) the result was no contribution.
We are proud to have CBC Staff Selection as supporters of the Conus/CBC Staff Selection Trend Employment and Jobseeker data series