Queensland Unemployment Remains the Highest in the Nation at 6.4%: CCIQ
Queensland’s unemployment rate (on a trend basis) remained the highest in the nation at 6.4% in November as the national benchmark fell from 5.3% to 5.2%, according to the latest data from the Australian Bureau of Statistics (ABS).
The Chamber of Commerce and Industry Queensland (CCIQ) notes Queensland’s unemployment rate was unchanged despite the October rate being revised down to 6.4% as 5,910 jobs were created in the state economy on a trend basis as part-time hiring leading into the Christmas accounted for 4,160 positions whilst 1,750 full-time roles were created over the same period.
CCIQ Chief Economist, Dr Marcus Smith said the state’s high unemployment rate reflects a local economy where overall activity is simply not creating enough positions to meaningfully close the gap between Queensland and New South Wales.
“Job creation is an obvious positive with any jobs report and while it is pleasing to see the number of people in work increase by 63,000 in the last 12 months, it is important to recognise that just over half of these new jobs were full-time positions.
“Hiring in the state has been in the last 12 months driven by health and public administration whilst construction activity is currently tracking well below the state average.
“The total hours worked in the economy coupled with part-time hiring reflects labour-market slack meaning there are people who want to work more hours but simply can’t," Dr Smith said.
CCIQ notes that 90% of Australia’s jobs in the last 12 months have been created on the eastern seaboard and Queensland created more full-time jobs than Victoria in the last year.
Note: Reported data is sourced from the ABS and is based on trend data.