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Year on year employment growth for March 2006 to March 2007 will significantly higher in Queensland (5.6%), compared to a national average of 2.7%.

Year-on-year growth for the March 2006 to March 2007 period for each state is: New South Wales 2.0%, Victoria 2.3% Queensland 5.6% South Australia 1.4% Western Australia 2.6% Tasmania 0.1%

The Courier Mail (April 13th 2007) reported that Queensland’s jobless rate was steady at 4 per cent.

Commsec’s Martin Arnold said the mining boom would drive unemployment even lower in Queensland although it was already considered to technically be at full employment levels. Treasurer Anna Bligh saidQueensland, “the jobs generator,” created 117,700 jobs in the year to March, or 41.7 per cent of jobs created nationally.

Source: QBR

SYDNEY is in the grip of a second property crisis with the supply of new houses falling to levels not seen since 1975 and research forecasting rents to rise by as much as 40 per cent within two years.The results of a study, by BIS Shrapnel, has shown construction of new homes in Sydney has hit an historical low, rivalled only by the slump of the mid 70s.

Coupled with housing affordability, low to middle income earners are being warned that prices are likely to spike again within four years with “steep price increases”.

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The latest Queensland state accounts show continued baseline strength with a revised economic growth increasing to 4.4% for 2005/06. In comparison, national rate of growth is sitting at 1.4%. Deputy Premier and Treasurer Anna Bligh says faster growth in the business sector, housing investment and consumer spending have all contributed to Queensland’s stronger economic growth. “Business investment in Queensland surged by 20.5% over the year to September 2006,” she says. “That compares with business investment growth of 0.4% in the rest of the country. That means that Queensland’s rate of business investment is 50 times that of the rest of Australia.”

Over the year to December 2006 trend employment increased by a total of 97,100 people with 92,100 of those being full-time jobs. “Despite containing less than 20% of the nation’s population, Queensland accounted for more than one-third of national employment growth in 2006 and over 43% of full-time jobs growth,” Bligh told Parliament this week.

Queensland’s trend unemployment rate reached a generational low of 4.1% in December 2006, substantially lower than the 4.7% recorded in the rest of Australia.

Source: QBR