"The Cairns economy continues to suffer from a weak labour market despite its tourismThis months charts also include revised population data from ABS following the census. Key points:
and construction indicators continuing to improve."
- Population growth estimates since 2006 revised down.
- Number of people employed in Far North down by 5,400 over the year.
- Trend unemployment to 9.2% with job ads weak.
- Trend passenger growth at domestic terminal continues while international subdued.
- Tourism accommodation occupancy improving.
- Median price for established units down 7.7% YoY and now close to median for vacant land.
- Vacancy rates for units and houses now at 2.0% and 1.9% respectively and falling.
- Building approvals showing some improvement from low base.