Thursday, May 17, 2012

FNQ employment stuck in neutral

The typically problematic and volatile regional employment numbers from the ABS are out today and the news for the Far North is really no news. The unemployment rate nudged down to 9.3% with nothing really of any statistical significance. Any improvement from seasonal factors in upcoming months will be of interest.















There has been past comment on how useful, relevant or valid the regional numbers are, and this month there was also some debate on the national numbers from ABS related to population benchmarks. Ricardian Ambivalence reminded that the design purpose of the ABS survey is to derive an unemployment rate and not the number of jobs.

Despite that I would hope the ABS numbers on employment are not so wildly inaccurate as to be misleading over time? Employment in FNQ also appears to have been going nowhere in recent months.


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