The Far North unemployment rate edged lower again in September to 6.4%. A further decline is perhaps even a surprise following last months sharp fall but the numbers were quite consistent, with the participation rate increasing.
The current ABS regional series began in November 2007. In
fact, these recent ABS numbers indicate the difference between the unemployment
rate of the Far North and the rest of Queensland is now LESS than it was in the
first year of the series, before the full impact of GFC and collapse of Lehman in
However, it does seem the ABS continue to downgrade
working age population growth in recent months to an implied 1.1% or so, based
on the employment numbers and participation rate. I doubt that is
far inconsistent with the trend for most of Queensland either?