As always, we must caution against reading too much into these un-adjusted figures. Our own Conus Trend data supports the positive news however, with Trend unemployment now at 7.4% (with substantial downward revisions to previous months which sees March Trend unemployment rate fall from 7.7% to 7.3%). Trend unemployment in the region has now fallen from 9.8% in the past 7 months. Our Seasonally adjusted unemployment rate has fallen sharply to 7.2% (from an unrevised 7.8% in March).However, the clear winner of this months Queensland regional lottery was West Moreton where unemployment fell to just 3.7%, the lowest in Qld, from 8.9% last month. Sunshine Coast unemployment also starred with a big fall to match the 3.7% rate from 6.9% last month, albeit with a relatively low participation rate and estimated employment below levels a year ago. There is a rumour that the tooth fairy lives in Mooloolaba and her household may have been surveyed by ABS last month?
Craig James from Commsec has compiled a list of the highest and lowest unemployment rate regions in Australia from the ABS data, as reported at the SMH. West Moreton and Sunshine Coast both appear in the lowest 15 whereas last month both would have been candidates for the highest 15.