Likely to be some surprises in rates notices in the Far North

The Queensland Valuer-General has released the land valuations (upon which Councils base their rates) for 2022, and they are likely to result in some rates surprises across the Far North when rates notices go out later this year. Councils base the rates landowners pay on the Land Valuations as applied …read more

Cairns adds another 1,100 to Trend employment; unemployment rate stable at 4.0%

The original ABS regional labour force data for Feb, released this morning, allows us to update our own Conus/CBC Staff Selection Trend series. This shows Trend employment growing in Greater Brisbane at a significantly faster pace than across the Rest of QLD. Greater Brisbane has added 72,400 to Trend employment …read more

Unemployment rate drops again. QLD also strong

The official unemployment rate in February fell to 4.0% (from 4.2%) with the national economy adding another 77,400 to those employed (after a strong upward revision to the Jan data). The number of people employed in full-time employment also jumped, up 121,900,  Participation also moved higher (to 66.4%). Adding to …read more

How cheap is Cairns property?

There has been some media interest yesterday and today for a Tweet we made yesterday about the fact that the median house price in Cairns has now returned to where it was about eleven years ago…just over $400,000. Despite solid interest in the property market in the past two years …read more

GDP up 3.4% q/q. Annual growth in 2021 highest since mid-1999

The fourth quarter GDP data released this morning was broadly in line with expectations with a 3.4% q/q increase on the back of the previous quarter’s 1.9% decline (actually revised slightly better) which leaves us 4.2% up from the same period a year ago. Over the course of 2021 GDP …read more

Trend unemployment rate dips below 4% in Cairns

Yesterday saw the ABS release their original regional labour market data which allows us to update the Conus/CBC Staff Selection Trend series. What that shows was a small uptick in Trend employment in the region (+400 for the month) which saw the Trend unemployment rate fall slightly to 3.9%. While …read more

Cairns JobSeekers fall again

Data today from the Dept of Social Services shows that the total number of JobSeekers in the Cairns region has fallen in January, after a modest increase at the end of last year. When we consider the original, unadjusted data through the lens of the Conus/CBC Staff Selection Trend we …read more

Unemployment rate stable but hours worked shows where the weakness is. Strong month for QLD

The Labour Force Survey data from the ABS for January shows an additional 12,900 people employed (although full-0time positions dropped 17,000) and a participation rate that edged slightly higher. As a result the headline unemployment rate remained unchanged at 4.2%. Annual employment growth dipped slightly to 2.8% (from 2.9%) However, …read more

Cairns Trend unemployment rate at just 4.0% in December

Regional ABS Labour Force data, when seen through the lens of the Conus/CBC Staff Selection Trend & s.a. series, shows Cairns having gained 5,500 jobs over the course of the year to December (although this remains more than 4,000 below the employment level of Feb 2020). Even with participation picking …read more

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

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