November 17, 2022
Queensland’s unemployment has fallen to the second lowest rate in the country, according to the latest data released by the Australian Bureau of Statistics.
Trend unemployment in October fell 0.1 per cent to 3.4 per cent, while seasonally adjusted unemployment fell 0.1 per cent to 3.3 per cent, equalling the lowest rate recorded.
“Queensland is recording record low unemployment while our budget surplus has grown to a record high,” Treasurer Cameron Dick said.
“It’s particularly pleasing to see unemployment falling as thousands of people continue to move to Queensland from places like NSW, looking for work.
“The decision by the Australian Bureau of Statistics last month to reintroduce its trend data series for Labour Force shows that we are leaving the worst of COVID-19’s volatility in the rear-view mirror.
“But we still face a very uncertain environment, with global inflationary pressures and geopolitical instability posing a threat to continued growth.”
Seasonally adjusted, Queensland has had the largest increase in employment, both in aggregate and percentage change terms, of any jurisdiction since March 2020, up 209,200 or 8.2 per cent.
Footnote: In the June 2022 quarter, the unemployment rate for the South Burnett local government area was 7.4 per cent. This figure is derived from the ABS labour force survey and Centrelink data, and compiled by the Department of Employment. It is published quarterly in the Small Area Labour Markets publication for Local Government Areas.
