Thursday, June 16, 2011

Unemployment back up again!

Latest ABS unemployment stats for the Far North released today were disappointingly poor and revesed last months substantial falls, Headline unemployment jumped back above 10% with the total number employed down and the number unemployed up, with little change in participation rate. A 3 month moving average has been added to the chart this month to give more context to the volatility. ABS data appears to imply population growth around 1.4%

Kitchenslut's previous suggestion last month that the gap between the Far North and other queensland regions had closed appears to have now been blown away *sob*. Although there are also some high unemployment in some sectors around the Gold Coast, Sunshine Coast, and some Brisbane areas. Higher male unemployment remains a feature in the Far North which is the reverse of national data.

When it comes to unemployment data Ricardian Ambivalence has used Google insights to chart searches on 'unemployment benefits' which correlates closely with national unemployment data. RA suggests the national unemployment rate may be about to head lower based on this indicator, following recent flat data.

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