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The ABS regional labour market data released this morning confirms the ongoing improvement in the jobs market in Cairns (see here for last month’s post). As always the raw unadjusted data needs to be set aside in favour of our Conus Trend series to get a true picture of what …read more
The ABS released the April labour force data yesterday and despite the headline, seasonally adjusted unemployment rate ticking up from 6.1% to 6.2%, the data is actually pretty good. A total of 2,900 jobs were lost during the month (seasonally adjusted) but the substantial increase seen in March was revised …read more
The Building Approvals data for March released today has beaten market expectations and cemented a strongly positive trend both at State and National level. The seasonally adjusted data showed total approvals up 2.8% for the month (against expectations of a 1.6% fall); this equates to a 23.6% increase over the …read more
Tourism Research Australia (TRA) today released their State Tourism Satellite Accounts (STSA) for the 2013-14 year. There are available for download here. The results show an industry which, although at a national level has seen growth of about 3.4%, is in decline in Queensland. We have previously posted extensively (see …read more
The ABS today released their unadjusted March regional labour force data. The headline data for Cairns showed the unemployment rate stable at 7.9%, while Townsville saw unemployment jump to 9.2% (from 7.7% last month). However, as always, these unadjusted numbers need to be considered at the Conus Trend level to …read more
The ABS jobs data for March has come in a lot stronger than anticipated with the headline unemployment rate falling to 6.1%. The market had been looking for a total of about 15,000 jobs to be added in March, in fact the data shows a huge 37,700 new positions (31,500 …read more
ABS data released today for Feb show building approvals reversing some of the strong growth seen in Jan (as had been broadly expected). On a seasonally adjusted basis Feb saw a 3.2% decline (driven by a 6.6% dip in unit approvals) for a 14.3% increase over the year. The less …read more
The December quarter 2014 National Visitor Survey from Tourism Research Australia (available here) shows overnight domestic visitor numbers were up 7.4% nationally to 81.436 million for the year to Dec 2014. The increase was led by Victoria where visitor numbers were up 11%. Total expenditure rose 5.7%. However, the result for …read more
Today’s release of the fourth quarter 2014 GDP data has come in broadly in line with market expectations. Quarterly growth was +0.5% for an annual increase of 2.5%. This compares with +0.4% q/q in Q3 (revised up from +0.3%) and +2.7% ann. The main drivers of growth were net exports (largely on the back of weaker imports) which added 0.7ppts …read more
Today’s release of Building Approvals in January has surprised the markets with a seasonally adjusted 7.9% increase (against expectations of a 1.8% decline). In addition previous months have been revised sharply higher. The seasonally adjusted annual growth figure is now 9.1%, slightly weaker than the 9.6% rate of Dec (although this was revised …read more
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