Friday, August 19, 2011

July Unemployment

Regional July unemployment data was released this week and didn't attract as much media interest as usual. Far North unemployment fell to 8.2%, down from 8.6% last month. In the typically volatile ABS survey data the number employed and the number unemployed both actually declined, and the participation rate also fell to produce the decline in the unemployment rate. The Far North participation rate, currently 67.7%, is still typically higher than the national rate which is at 65.6%.

For a change of perspective this month the graph is from the post at Queensland Economy Watch. This is a 12 month moving average to smooth out the volatility and emphasise the longer term trends. Given its large population base the consistent rise in unemployment on the Gold Coast has become at least as significant as the Far North rollercoaster.

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