The latest ABS regional employment data for Far North has continued some of the positive trends of recent months. The unemployment rate fell to 9.3% while estimated employment gained a further 1,800 jobs and the participation rate also increased.
All of the gains
were in female employment which in the last 6 months has shown a big
turnaround from the previously weak trend. I guess this is mostly
related to tourism? The female data as usual is tagged with a sample
warning from ABS.
the male unemployment rate remains above 10%. It should be remembered
the data is not seasonally adjusted as the national data is. This weeks
eclipse influx should support the current month ahead of the Christmas
season. China Eastern has also reported 80% occupancy
for the initial two weeks of direct flights to Cairns from Shanghai.
The test is likely to be in the new year which is typically very weak in
the Far North.