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Any thoughts of a snap-back, V-shaped recovery in the Australian economy are long gone. With Melbourne only half-way through a second wave, 6 week lock-down the third quarter GDP data (which we will not see until December) may be negative, although our model is still projecting a modest q/q gain, …read more
Today’s release from the ABS of the Payrolls data to the week ending 8th August suggests that we might expect some improvement in Cairns’ Conus/CBC Staff Selection series for August when released later next month. Payrolls data (sourced from the ATO’s Single Touch Payroll system) showed payrolls in the Cairns …read more
Not surprisingly, given the poor State performance noted last week (see here for details), the labour markets across most of QLD have deteriorated in July according to the Conus/CBC Staff Selection Trend. The Trend unemployment rate, which sits at 8.8% in QLD, lifted to 8.7% in Greater Brisbane and 9.0% …read more
Today sees yet more evidence of the better economic outcomes coming from the better health situation being enjoyed by Queensland. Original JobSeeker data from the Dept of Social Services for July showed recipients up over 7,000 across the nation (+0.4% m/m). NSW added almost 1,500 (+0.3% m/m) while Victoria, not …read more
The July Labour Force data from the ABS this morning showed employment had grown another 114,700 in the month. While the last 2 months have seen significant recovery we should not lose sight of the fact that employment remains more than 500,000 below where we started the year. Another sharp …read more
The divergence between those states enjoying a better health outcomes and those not has become clearer with the release this morning of the ABS Weekly Payrolls data to July 25th (sourced from the ATO Single Touch Payroll system). While payrolls fell 0.1% m/m across Australia, QLD saw a 0.9% increase. …read more
Last week we posted using the Google Mobility Data (Google LLC “Google COVID-19 Community Mobility Reports”. www.google.com/covid19/mobility/ Accessed: 10/8/20) as a proxy for economic activity (see here for the full details). Google’s data has now been updated to 4th August so we have updated our two measures (‘Activity’ and ‘Economic Activity’). …read more
Today saw the release of the ABS original regional building approvals data for June, which allowed us to update the Conus Trend data series. While residential approvals fell 17.3% in Queensland in June (see here for more detail) today’s data shows that it’s the regions outside Greater Brisbane where the …read more
Google have been providing data on their “Community Mobility Indexes” for some time to help track the impacts of COVID-19 (you can get further details here). The indexes measure movement in six categories; Grocery & pharmacy Mobility trends for places like grocery markets, food warehouses, farmers markets, specialty food shops, …read more
The residential building approvals data from the ABS for June show another steep decline. Approvals fell 4.9% m/m (seasonally adjusted) which takes the year-on-year decline to 15.8%. House approvals are down 6.4% for the year while units are off 30.2%. In Queensland total approvals fell 10.9% m/m and are now …read more
We are proud to have CBC Staff Selection as supporters of the Conus/CBC Staff Selection Trend Employment and Jobseeker data series