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Today’s Mid-Year Economic and Fiscal Outlook (MYEFO) downgrades Treasury’s forecasts of economic growth and increases the size of fiscal deficits; but it sticks to the projection in the Pre-Election Economic and Fiscal Outlook (PEFO) of the budget returning to surplus in 2021-21 (albeit a revised down, razor thin surplus). The …read more
ABS estimated annual population growth has picked up slightly in the June from the previous quarter. Growth in Queensland increased from +1.30% to +1.35% over the quarter but remains below the national average of +1.42%. Victoria continues to lead the pack with growth picking up to +2.07% in the June …read more
The ABS release of jobs data for November contains an apparent paradox. Jobs rose strongly (up 39,100 seasonally adjusted) and yet the unemployment rate also went up (to 5.7%). As keen readers of this blog will realise the answer lies in the fact that the Participation Rate also increased (to …read more
As we have been noting for some time, the Participation Rate (that proportion of the working aged population in the labour force, i.e. either employed or counted as unemployed) has been falling for some time. On the latest data for Oct the Trend figure fell to 63.8 which is its …read more
The Mid-Year Fiscal and Economic Review released this afternoon (download here) will have made happy reading for QLD Treasurer Curtis Pitt. Surging coal royalties have resulted in a better than expected surplus and allowed the government to “splash some cash” ahead of a probable election next year. Although the fiscal …read more
Pete was on radio 4CA with John MacKenzie this morning talking about today’s announcement from Curtis Pitt about $20 million over 2 years for grants targeted at Queensland manufacturers. You can listen to the interview below.
The climb in the numbers of visitors coming to, and leaving, Australia continues in the latest data for Oct from the ABS. Short term arrivals hit a new record of 713,300 (seasonally adjusted) for the month; an increase of 12.7% from the same time a year ago and a total …read more
The release by the Dept of Employment of their Small Area Labour Market (SALM) data for the third quarter to Sept 2016 confirms the weaker story that we’ve been seeing in Townsville. The SALM data is based on a range of indicators including ABS Labour Force data for the SA4 areas, …read more
There is a certain narrative doing the rounds that although the Queensland economy is recovering it is doing so largely on the basis of booming resources exports and government spending; that the private domestic sector is struggling to add to growth. There is unquestionably a valid point being made about …read more
Following yesterday’s flurry of data (GDP, regional building approvals and international tourism), this quarter’s CONUS Quarterly is now available for download below with analysis of the GDP numbers at a national and state level as well as our regular FNQ Economic Roundup. If you would like to receive the Quarterly …read more
We are proud to have CBC Staff Selection as supporters of the Conus/CBC Staff Selection Trend Employment and Jobseeker data series