Cairns jobs growth eases but still strong
Latest figures show employment growth has slowed in the Cairns region but remains well above the state average.
The Conus/CBC Staff Selection Trend briefing for October shows annual trend employment growth stands at 11% compared with 2.6% for Brisbane and 2.1% across Queensland.
“The Trend labour force data in Cairns has been generally improving solidly for more than 12 months although that has eased somewhat is recent months,” said Conus analyst Pete Faulkner.
“For example, in the past six months trend employment is up 800 but was up 12,300 in the prior six months.
“There can be doubt that the labour market in Cairns is still quite firm although there has been some moderation of late.”
The trend unemployment rate has climbed slight, up to 6.3%, which remains below the state average.
However, Mr Faulkner said an increase in the number of people looking for work has inflated that figure.
“This strength of the labour market is actually reflected in the very strong pick-up in Trend Participation,” he said.
“It still sits at a 6-and-a-half year high.
“Were it not for this surge in participation, the unemployment rate would be much lower.”
The quarterly Conus Trend Industry Jobs data for August shows that the sectors seeing significant gains over the past year are construction (+4,700) and education (+3,000).
The greatest decline has been in retail (-2,900).