Good news keeps rolling on for jobs in Cairns
Jobs growth in Cairns is outstripping the employment market in the Brisbane region.
That’s the verdict from the latest jobs data released by the Australian Bureau of Statistics and analysed by economist Pete Faulkner from Conus Business Consultancy.
According to Faulkner’s consideration of trend data – a much more reliable indicator than the volatile monthly figures – there is a “continuing good-news story” when it comes to employment in the North.
“Trend employment in the Cairns SA4 region has increased by 800 in July to 120,200,” Faulkner said.
“Trend unemployment rate has remained stable at 5 percent but only after June was revised down from 5.3 percent.
“Trend Participation has also increased to 63.1 and is now at its highest level since Oct 2013.
“Over the year a total of 12,500 extra people are employed with 9,700 of those in the form of full-time employment.”
The Conus Trend data also shows Townsville’s jobs market also continues to recover, with trend employment increasing by another 1,000 in July to 111,200, an increase of 15,700 over the past 12 months with 9,500 of those full-time positions.
But the big story is the difference in regional Queensland, including Cairns, compared to the Greater Brisbane area.
“As we have been seeing for some time, the regions are beating Greater Brisbane in the race for jobs,” Faulkner noted.
“The Rest of Queensland has added 45,100 Trend employment in the past 12 months while Greater Brisbane is up just 18,900.
“Trend employment growth in Greater Brisbane is running at 1.6 percent per annum while in the Rest of Queensland it sits at 3.9 percent.
“More starkly, full-time employment in the Rest of Queensland is up 33,800 over the period while it has fallen by 12,700 in the capital.”