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Once again we see a State political party making claims regarding the number of jobs to be created. The LNP have today announced their “Jobs for Tomorrow” plan which pledges that “More than 209,000 jobs would be created in Queensland over the next six years”. The irony here is that …read more
Despite a strong set of numbers for national building approvals the picture in QLD remains stubbornly weak, as the hart below makes clear. Across the nation seasonally adjusted approvals rose 7.5% m/m and 10.1% y/y on the back of solid unit approvals (particularly in Victoria). The rather less volatile Trend …read more
Gene Tunny over at Queensland Economy Watch has put up a useful post on what we can expect for the Queensland economy in 2015. The general theme is likely to be a weak one as the LNP Government move to an election in a few months. As Gene notes, the …read more
The ABS November regional labour force data today confirms a worrying trend for the Cairns region. As we noted last month (see here), the region is failing to see any jobs growth and the fall in the unemployment rate is all due to an ongoing collapse in the Participation Rate. …read more
Data for Nov released by the ABS today shows the headline unemployment rate nudged up to 6.3% (from 6.2%) despite stronger than expected jobs growth. The labour market added 42,700 new jobs in Nov, although almost all of these (40,800) were part-time. The rather less volatile Trend series showed the …read more
After the disappointing International Visitor Survey results from last week (see here) the National Visitor Survey released today is no better (the full report is available for download here). While total overnight domestic visitors rose by 5% nationally they managed only a 2.5% increase in QLD and 1.4% in TNQ. …read more
Today’s GDP result has come in much weaker than had been expected and as a result the A$ has fallen sharply and we are hearing much more talk of possible further rate cuts in 2015. The third quarter result saw GDP rise just 0.3% for a 2.7% increase over the …read more
The Tourism Research Australia International Visitor Survey (see here for the full report download) shows intl visitors to Australia have risen by 8.2% for the year to Sept 2014 with expenditure up 5.4%. Unfortunately Queensland has performed less well with visitor numbers up just 3.6% and expenditure up 2.7% (i.e. …read more
The private capital expenditure data released this morning has been a pleasant surprise for the markets. Third quarter actual CAPEX had been expected to come in around a 1.5% decline; in actual fact the result was a modest 0.2% increase. The crucial Plant, Equipment and Machinery component, which will feed …read more
The data for construction work done in the third quarter shows a larger than expected contraction (seasonally adjusted) of 2.2% for the quarter. The market had been expecting a reduction of about 1.9%. The main cause of the $1.2 trillion decline nationwide (to $51.15 trillion) was the slowdown in engineering …read more
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