Queensland Records Highest Unemployment Since January 2015 with Jobless Rate at 6.6%: CCIQ
Queensland’s unemployment rate (on a trend basis) rose to 6.6% in September, its highest level since January 2015 as the national benchmark remained steady at 5.3%, according to the latest data released from the Australian Bureau of Statistics (ABS).
The Chamber of Commerce and Industry Queensland (CCIQ) notes the state’s unemployment rate at 6.6% is the worst jobless benchmark nationally on both a trend and seasonally adjusted basis.
CCIQ also notes that despite the creation of 6,560 positions on a trend basis that consisted of an additional, 2439 full-time positions and 4121 part-time roles in September, Queensland is not creating enough jobs to lower unemployment more broadly.
Private sector investment and hiring intentions in Queensland continue to plummet and lag behind New South Wales and Victoria, whose respective economies have accounted for 70% of overall jobs created throughout Australia in the last 12 months.
CCIQ Head of Media, Dan Petrie said the latest data reflects the Pulse-Suncorp Business sentiment survey which is currently tracking at four year lows.
“The latest job print for Queensland is unacceptable from both a business and economy stand point.
“This is a terrible read on the state’s job numbers where policy makers have to act to ensure every project which can be brought forward is done so without delay.
“This also comes at a time when state businesses consistently cite onerous compliance as a major barrier to growth and employment.
“There is no doubt in combination with drought, delays in resources projects and a series of job-destroying announcements around penalty rates on Christmas Eve, that this is contributing to an increasingly dire view among the state’s business community,” Mr Petrie said.
Note: Reported data is sourced from the ABS and is based on trend data.