A quick preliminary post on todays regional unemployment data until the Conus Trend is available. The volatile raw monthly unemployment rate fell to 6.7% while employment did not change much. The bigger story may be that the participation rate also fell to an all time low for the series at 59.4%. The decline apparent here even on these raw numbers remains a concern:
Not unusually the Cairns unemployment rate this month comes with a warning flag on sample variability too high for most practical purposes.
The ABS also released updated national and state population stats today which will require a closer look before posting with particular interest in the interstate migration numbers.