The seasonally adjusted and trend unemployment rates derived by Conus are more stable at 7.8% and 7.7% although there are concerns that healthy jobs growth will be required to maintain the recent unemployment trend given the participation rate.
The employment estimates of Far North are typically weak in the new year, as would be expected with the wet season. To demonstrate I have graphed a comparison of employment (thousands) for the December and March quarters since 2007/08 as a 3 month average.
The fall this year is typical of previous episodes and retains the comparative employment growth of recent months.
Update: Rick Carr has also today posted his latest CairnsWatch.