Queensland Adding Jobs in Manufacturing and Education as Retail and Construction Falter
The latest Conus Data analysing the Australian Bureau of Statistics detailed jobs data by industry and regional employment show the virtues of a diversified economy with the education, mining, professional services and manufacturing industries picking the baton and leading jobs growth.
These outcomes reflect the growth drivers propelling the economy: strong population growth, high commodity prices (coal and base metals), lower dollar and government initiatives to attract industry to Queensland.
CCIQ notes that the fall off in retail workers has been occurring in the greater Brisbane area whilst heighten activity on the Gold Coast has helped offset a subdued picture for the state’s capital.
Head of Industry and media at CCIQ, Dan Petrie says that greater Brisbane has had ‘a rather forgettable quarter’ in job creation with the only bright spot being the gains seen in professional services.
“The data from the ABS confounds the view that Brisbane is some sort of powerhouse for the state.
“The Gold Coast across a number of key industries has performed better and offset some of the subdued data around construction and retail.
CCIQ notes that Townsville and Sunshine Coast continue to see weaker levels of job creation noting a very challenging retail environment in those key regions.
Manufacturing jobs in Ipswich and Logan jumped by 1,900 positions over the quarter with hiring intentions in these industries improving as well as being the one positive marker for the Townsville region.
A lower dollar has helped export facing industries over the course of the last three months.
“While the escalation in the international trade wars are a concern for Queensland’s exporters, strong domestic drivers including a growing pipeline of infrastructure construction and rising levels of interstate migration, will continue to spur the creation of new jobs across the state,” Mr Petrie said.
Queensland unemployment rate at 6.3% is a full percentage point behind the national benchmark with job creation running rate below the 6000 jobs required to lower the jobless rate.
Note: Data is sourced from the ABS and is based on trend data.