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The extended run of positive employment growth in Cairns continued in July with another 300 added. The region has seen an additional 2,300 people employed in the past year. Participation remains high in the region and is up again in July after June was revised a little lower. Employment growth has nevertheless slowed and now sits at 1.6% pa, which is below the Queensland (2.6%) and National (2.0%) rates.
The July Conus/CBC Staff Selection Trend unemployment rate has edged higher to 4.7% after June was revised up to 4.6% and remains higher than the State (4.1%) and National (4.2%) levels. As we see an easing trend slowly playing out at the State and National level we should not be surprised to see the Cairns unemployment rate moving somewhat higher, particularly as participation remains at near-15-year highs.
Although employment growth has slowed, and the unemployment rate has moved higher, we are still witnessing robust growth of full-time employment which is now sitting very close to record highs and is up 2.5% from a year ago.
It is also worth noting that the female cohort is performing somewhat better than males. The female unemployment rate sits at just 4.3% while for males it is now 5.0%. Additionally, all of the increase in full-time employment has come from females (+3,100). Participation rate increases for both cohorts over the year are very similar.
The complete Conus/CBC Staff Selection Regional Trend & s.a. data for Queensland 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