Excellent employment numbers in Nov…although QLD disappoints

Once again the Labour Force data has surprised on the upside in November. While consensus expectations were around an increase in employment of 40,000 (our own projection was somewhat higher at 66,000…see here for details) the official figure showed a jump of 90,000 (almost all of which were in full-time …read more

Weekly Payrolls continue to improve but there are some concerns for Small Business (and Townsville)

The ABS weekly payrolls data (sourced from the ATO Single Touch Payroll system) updated its latest series yesterday and today. What we see is a clear national improvement being driven largely by the recovery in Victoria as the state continues to come out of lock-down. Victoria registered a 1.4% improvement …read more

Border openings showing in the Google Mobility data

The long grind back to something approaching ‘normal’ continues. The latest Google Mobility data to 6th Dec shows a steady improvement across all States in recent weeks as SA came out of its short lock-down and most State borders opened. WA and QLD lead the recovery with total activity down …read more

Far North bucks the regional building approvals trend

Original regional building approval data for October released yesterday by the ABS allows us to update our Conus Trend series for the Queensland SA4 regions as well as our local Local Government Areas. While approvals were up 14.3% y/y across the nation in Oct, Queensland saw a 9.3% decline on …read more

Labour Account Sept 2020 shows average income surge

Tthe ABS have just released the Sept 2020 quarter Labour Account data series which provides a wealth of information. One thing it allows us to do is take a  look at incomes across various industry sectors and how they have changed in the past 12 months. The data provides us, …read more

Queensland Treasury estimates for Gross State Product Q2 finally arrive

While the ABS produce Gross State Product data only on an annual basis (for the 2019/20 year they estimate Gross State Product in QLD fell 1.1%) we must rely on the quarterly estimates from QLD Treasury for the intermediate periods. With the QLD Budget having been delayed until last week …read more

Q3 GDP rebounds strongly and Queensland leads the pack of States

The third quarter GDP data released this morning was better than many had been expecting with a 3.3% q/q lift which leaves us 3.8% down for the year. This brings to an end the official recession after Q1 and Q2 were both negative, although this is largely meaningless given the …read more

Switch to JobKeeper 2.0 hits small business hard

At the end of Sept the JobKeeper stimulus, which had been in place since April, converted to a more stringent set of qualification requirements (as well as decreases to the amounts paid) for the period to the end of Dec at which time there will be another (and probably final) …read more

Regions lead the employment gains in QLD

The original ABS regional labour force data for October out today allows us to update our Conus/CBC Staff Selection Trend series and what this makes clear is that the recovery in employment seen in Queensland (see here for more details of last week’s State and National data) is being driven …read more

Why does Queensland’s unemployment rate look so high if the labour market is doing so well?

We have been highlighting for some time the fact that the Queensland labour market has benefitted from the positive health outcomes in the State (see here for the most recent October data). This analysis has not been universally agreed with and some commentators have pointed at alternative data sets, such …read more

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