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The extended run of positive employment growth continues for Cairns this month with another 400 added. The region has now seen an additional 5,200 people employed in the past year and this month (once again) we see the increase all coming from full-time positions. While over the course of the last 12 months we see employment up 5,200 we should note that there are also fewer people registered as unemployed.
Although population growth in the region has been strong the participation rate has also been strong (especially for females) over that period and sits close to 12-year highs. Many more people are entering the labour market and finding work, and this has seen the unemployment rate continue to decline. Though we have seen employment growth of 3.7% pa (which is now only a little below State 4.1% but well above National 2.9% rates) we see the unemployment rate has declined over the year and has been slowly falling in a period during which National levels have been slowly edging higher.
The October Trend unemployment rate is down at 4.3% (down from 4.7% at the start of the year) which remains slightly higher than the State (4.0%) and National (4.1%) levels. The underlying picture is still one of a general strength. The fact that since the start of 2024 we have seen an additional 7,200 full-time positions (while part-time positions are down 2,700) supports this view of a strong labour market.
The full Conus/CBC Staff Selection Regional Employment Trend & s.a. data set is available for download below.
Conus/CBC Staff Selection Regional Employment Trend & s.a. QLD – Oct 2024
We are proud to have CBC Staff Selection as supporters of the Conus/CBC Staff Selection Trend Employment and Jobseeker data series