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This is the fifth month for which we are using the new Enhanced Regional Labour Force data from the ABS, which is backdated to 2020 (for employment) and 2016 (for unemployment). This is now providing a more robust and less volatile data-set which we can utilise to estimate our Conus/CBC Staff Selection Trend series.
The extended run of positive employment growth continues this month with another 400 added. The region has now seen an additional 4,600 people employed in the past year and this month (once again) we see the increase all coming in full-time positions.
While over the course of the last 12 months we see employment up 4,600 we should also note that there are an additional 200 people registered as unemployed. This apparent paradox comes not only from the fact that population growth in the region is strong, but also that the participation rate has increased (especially for females) over that period now sits at 14-year highs.
As a result, despite employment growth running at 3.2% pa (which is somewhat below State 3.9% but well above National 2.6% rates) we see the unemployment rate has remained unchanged at 4.4% during the year and has been slowly falling during a period in which State and National levels have both been slowly edging higher.
We are proud to have CBC Staff Selection as supporters of the Conus/CBC Staff Selection Trend Employment and Jobseeker data series