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

Labour Force data disappoints…but there are some confusing factors still at play

There had been expectation that, after a sharp fall in employment in Sept, that there might have been an uptick in October as the lockdowns in NSW and Victoria started to relax. In reality employment fell again (by 46,300) and the unemployment rate climbed to 5.2% (from 4.6%) as people …read more

Building Approvals fall again in the North

Given the declines we saw in residential building approvals at both the national and State level last week (see here for details) it should come as no surprise to see a similar pattern emerge in the North. However, what today’s release by the ABS of more granular original regional data …read more

NSW, VIC and ACT lockdowns hit QLD tourism

Tourism Research Australia have just released their monthly snapshot domestic tourism data for August (see here) which clearly shows the effect of the lockdowns in NSW, Victoria and the ACT. Across the nation domestic tourism expenditure fell by 12.4% from a year earlier with a decline of almost 80% in …read more

Building Approvals fall again

The boom in residential building approvals that we saw from mid-last year until the first quarter this year has well and truly come to a halt. September saw approvals down 4.3% m/m, although they remain up 12.8% from a year ago. What strength there is comes from unit approvals (up …read more

CPI drops back to +3.0% but Core Inflation finally returns to the RBA’s target range

The headline CPI figure for the third quarter came in broadly in line with market expectations. The quarter-on-quarter increase was unchanged at +0.8% (actually unchanged at +0.76%) but the year/year increase fell back to +3.0% (from +3.8% in the June quarter) as base effects unwound. However, what is far more …read more

Trend employment dips in Cairns but in general the regions are doing well

September Labour Force data, released by the ABS this morning, allows us to update the Conus/CBC Staff Selection Trend series for the regions of Queensland. We see that while the seasonally adjusted unemployment rate across QLD is 4.9% (see details from last week) in Greater Brisbane it is 5.5% (Trend …read more

Online Job Vacancies power ahead in the Far North

Data this morning from the National Skills Commission shows that, despite the tourism lock-out, the level of online job vacancies in the Far North has once again hit a new 9-year high in Sept. While Queensland numbers have declined somewhat since the record high seen in May (and moved higher …read more

Despite a slight decline in original JobSeeker numbers in Cairns the Conus/CBC Staff Selection Trend nudges higher in Sept

Data released this morning by the Dept of Social Services shows JobSeeker numbers across the nation fell slightly in Sept although our own Conus/CBC Staff Selection Trend series suggests a slight increase which brings the y/y decline to 33.2% (from 33.3% last month). In Queensland, again the original data shows …read more

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