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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
The strong bounce in national building approvals noted last week (which was not replicated in QLD) appears to have been a feature in Cairns during October. ABS data released this morning show total unadjusted approvals in Cairns and Douglas were 84; Townsville 168 and Cassowary Coast just 4. As always, …read more
The US jobs data for November has, once again, beaten expectations. Non-farm payrolls increased by 321,000. The markets had been expecting an increase of around 230,000. In addition, estimates for Sept and Oct were revised higher by a combined 44,000. A separate survey showed the headline unemployment rate unchanged at …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
I have just received the following email as an “Open Letter to the Cairns Community” from Tony Fung. The letter talks about his “commitment to one day deliver AQUIS for Cairns” (my emphasis) and notes that the delays caused in the probity investigation for the Reef Casino takeover will result …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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