Published Thursday, 15 March, 2007 at 12:01 PM
Deputy Premier, Treasurer and Minister for Infrastructure
The Honourable Anna Bligh
Qld’s historic low unemployment remains at 4%
15 March 2007
Queensland’s historic low unemployment remains at a “once-only-dreamed-of” 4%, Deputy Premier and Treasurer Anna Bligh said today.
“The State continues to lead the nation in job creation with 114,500 jobs created in Queensland in the past year – 39.7% of all jobs across the nation,” she told State Parliament this morning.
She highlighted that the State’s economic news was not just in the continued record low unemployment.
In the last week there has been release of other positive Queensland data:
1. According to ABS National Accounts, State Final Demand was up 0.8% in the December quarter - up 6.1% on a year ago. Our annual growth is the second highest of all states and compares with 3.5% growth nationally.
2. Business Investment was up 1.2% in the December Quarter, up 12.8% on a year ago. Compares with 1.5% growth nationally.
3. ANZ job ads up 0.1% in Feb – the 7th consecutive increase.
4. Housing Finance up 0.8% in the January quarter - up 10.5% on a year ago. Finance for construction of new houses is up 45.6% on a year ago. This is indicative of strong growth in construction industry.
5. Lending Finance (for purchase of houses for rent or resale) - up 5% in Jan Qtr, +18.6% on a year ago. Rest of Aust down 7.4% in Jan Qtr, down 4.4% on a year ago. This is reflective of increased investor interest in housing - tight rental market. Shows the market is responding to address housing supply.
Ms Bligh highlighted that the State continues to lead the nation in job creation with 114,500 jobs created in Queensland in the past year – 39.7% of all jobs across the nation.
“Again this is an outstanding result. Queensland has been under – or at - the national unemployment rate (4.6%) for more than two years now.
“In the month of January Queensland created 6,300 jobs of 13,700 nationally.
Mirroring last month’s record, strong economic and employment growth continue to encourage people into the labour force, with the labour force participation rate remaining constant at the historic high of 67.4% - the highest of any state in Australia.
Media contact: Deputy Premier’s Office 3224 6900
Queensland’s historic low unemployment remains at a “once-only-dreamed-of” 4%, Deputy Premier and Treasurer Anna Bligh said today.
“The State continues to lead the nation in job creation with 114,500 jobs created in Queensland in the past year – 39.7% of all jobs across the nation,” she told State Parliament this morning.
She highlighted that the State’s economic news was not just in the continued record low unemployment.
In the last week there has been release of other positive Queensland data:
1. According to ABS National Accounts, State Final Demand was up 0.8% in the December quarter - up 6.1% on a year ago. Our annual growth is the second highest of all states and compares with 3.5% growth nationally.
2. Business Investment was up 1.2% in the December Quarter, up 12.8% on a year ago. Compares with 1.5% growth nationally.
3. ANZ job ads up 0.1% in Feb – the 7th consecutive increase.
4. Housing Finance up 0.8% in the January quarter - up 10.5% on a year ago. Finance for construction of new houses is up 45.6% on a year ago. This is indicative of strong growth in construction industry.
5. Lending Finance (for purchase of houses for rent or resale) - up 5% in Jan Qtr, +18.6% on a year ago. Rest of Aust down 7.4% in Jan Qtr, down 4.4% on a year ago. This is reflective of increased investor interest in housing - tight rental market. Shows the market is responding to address housing supply.
Ms Bligh highlighted that the State continues to lead the nation in job creation with 114,500 jobs created in Queensland in the past year – 39.7% of all jobs across the nation.
“Again this is an outstanding result. Queensland has been under – or at - the national unemployment rate (4.6%) for more than two years now.
“In the month of January Queensland created 6,300 jobs of 13,700 nationally.
Mirroring last month’s record, strong economic and employment growth continue to encourage people into the labour force, with the labour force participation rate remaining constant at the historic high of 67.4% - the highest of any state in Australia.
Media contact: Deputy Premier’s Office 3224 6900