15 May REMPLAN Data Update – Insights from the latest Unemployment Data (Dec qtr 2019)

The Australian Bureau of Statistics (ABS) and the Department of Jobs and Small Business (DJSB) recently released unemployment data for the December 2019 quarter.  All public-access REMPLAN Economy and Community profiles have now been updated to reflect the new data.  

The December quarter unemployment rate was highest in South Australia (6.1%), followed by Queensland (5.6%), Tasmania (5.5%) and Western Australia (5.4%). The unemployment rate was lowest in the Australian Capital Territory (2.8%). 

For Australia, the unemployment rate for the December 2019 quarter was 4.9%, a decrease of 0.3% from the September 2019 quarter (5.2%). 

Over the year, unemployment rates fell in Queensland, Western Australia, Tasmania and the Australian Capital Territory. Unemployment rates increased in all other states and the Northern Territory. 

The ABS has noted:

“Over the past year, trend employment increased by 260,900 people (or 2.1%), which was above the average annual growth rate over the past 20 years of 2.0%. Over the same 12 months, the trend employment to population ratio, which is a measure of how employed the population (aged 15 years and over) is, increased by 0.3 percentage points (pts) to 62.6%…

Over the past year, increases in employment were observed in all states and territories. The largest increases were in Victoria (up 98,000 people), New South Wales (up 80,000 people), and Queensland (up 57,600 people). The highest annual employment growth rates were in the Australian Capital Territory at 3.3%, followed by Victoria and Tasmania at 2.9%. The annual trend employment growth rates in New South Wales, Victoria, Queensland, Tasmania and the Australian Capital Territory were above their respective 20 year average annual growth rates in trend employment.” 

 

For updated local area unemployment rate estimates, explore the regional profiles. 

The example below is for Redland, QLD

For insights into the impact of the spread of COVID-19 on the labour market, as well as the responses to government restrictions and government support packages, it will be critical to observe the unemployment rate over coming months. 

Looking ahead to the next release of ABS and DJSB data in June (March 2020 quarter data) we anticipate that we will see the impact of the December bushfires on affected communities, as well as the impacts of COVID-19 and associated social lockdown policies.

The March quarter 2020 unemployment data is scheduled to be released in June 2020. 

Please contact the team at REMPLAN if you have any questions regarding this data update. We are also available to provide REMPLAN software training, presentations and management briefings. 

Let’s Talk: 1300 737 443

Kind Regards,
The REMPLAN team