CPI jumps…but it’s restricted to a few groups and varies across the nation

Headline CPI for the final quarter of 2021 has come in hotter than expected at +1.3% q/q (exp +1.0%) and +3.5% y/y (exp +2.8%). However, the increases are focused on 4 main expenditure groups; Transport +12.5% y/y Housing +4.0% y/y Furnishings & H’hold equipment +3.6% y/y Health +3.3% y/y No …read more

Domestic Tourism in TNQ was doing incredibly well….until Omicron

Data from Tourism Research Australia released recently shows just how well the Tropical North has been doing when it comes to domestic tourism; at least until the Omicron surge hit. Data for the year up to the end of the September 2021 quarter from the National Visitor Survey shows that …read more

JobSeeker numbers creep up again in Dec

Having briefly dipped below 1 million in November today’s JobSeeker data for December shows the trend reversing and the total number claiming benefits back above 1 million (1,028,564). The move is reflected in Queensland where JobSeekers are at their highest level since August (231,231). In Cairns we also see a …read more

Another strong jobs report…but this one comes from pre-Omicron days

The Labour Force survey result for December, released this morning, relates to a period just before the full effect of the unfolding Omicron outbreak was felt and just as many States (notably NSW and Victoria) were starting to open up again. As a result the fact that it shows a …read more

Improving Building Approvals in QLD being driven by Greater Brisbane

Last week’s building approvals data showed approvals in November across Australia remained down 7.7% from a  year earlier. In Queensland the result was better with a 5.0% increase. However, the data today of the regional breakdown of those numbers, when seen through the lens of the Conus Trend, show that …read more

Queensland building approvals jump 20% in Nov

Residential Building Approvals data for November shows Queensland registered a 20.0% jump on the back of strong unit approvals. From a year ago approvals are up 5.0% although house approvals remain down 14.0% and units are up 61.7%. Across the nation total approvals rose 3.6% for the month and are …read more

QLD Public Service employment up 1.9% in year to Sept

The biannual QLD Public Service workforce statistics were released yesterday (presumably so that they were over-shadowed by the Budget update) and they show Public Service full-time-equivalent (FTE) employment up by 1.9% for the year to Sept. If we ignore the increases in Health and Education (as the Coaldrake Review suggests …read more

Big jump in employment; QLD records lowest unemployment rate since Feb 2009

A sharp jump in employment, as lock-downs ended in NSW and Victoria, has seen the nation’s headline unemployment rate fall back to 4.6%. Australia added 366,100 to the number employed in November and despite a sharp rise in participation (to 66.1) this managed to translate into an unemployment rate of …read more

Queensland building approvals nudge higher

Data for October shows building approvals across the country fell by 12.9% m/m and are now down 8.1% from a year ago. The decline is being lead by unit approvals which are down 15.1% y/y while house have fallen just 4.4%. In Queensland total approvals edged higher in October by …read more

Not much change in Far North labour market in October

Despite large falls in employment nationally (and to a lesser degree in Queensland), the North of the State appears to have escaped relatively unscathed this month. The Conus/CBC Staff Selection Trend series shows trend employment in Cairns fell 400 (with all the losses coming from part-time positions) while Townsville added …read more

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