Queensland Jobs Positive Despite Jobless Rate at 6.2%: CCIQ
A gain in total jobs in Queensland failed to move the state's unemployment rate of 6.2% (on a trend basis) as it continues to trail the national benchmark of 5% according to the latest data released from the Australian Bureau of Statistics (ABS).
The Chamber of Commerce and Industry Queensland (CCIQ) notes that the creation of almost 6000 positions on a trend basis in December, consisting mainly of full-time roles, has helped the state maintain its jobless rate at 6.2%; well behind New South Wales and Victoria where the jobless rate is 4.4% and 4.6% respectively.
CCIQ Chief Economist, Dr Marcus Smith said that, given the economic headwinds facing Australia, from a Queensland perspective the report should be viewed as positive.
"Queensland's economy is a patchwork proposition at best currently; with some regions performing well, whilst other centres continue to struggle.
"Accordingly, I’ll be very interested to see the regional employment breakdowns that follow the national and state numbers, in particular which regions jobs growth is most prominent.
"With political uncertainty at the national level and economic uncertainty at the state level continuing to weigh on business sentiment in Queensland, this makes job creation somewhat more challenging," Dr Smith said.
Western Australia's job numbers, where the jobless rate rose to 6.4%, has relieved Queensland from the unenviable position of having the worst jobless rate in the country for a fifth straight month.
CCIQ notes that the levels of economic activity around Queensland have been broadly positive with population flows and increased public construction expected to boost demand in 2019.
Year on year, the state has created over 30,000 jobs in trend terms, with two-thirds of that attributed to growth in full-time positions.
Note: Data is sourced from the ABS and is based on trend data.