The economies of the non-resources States are not looking healthy, if today’s ABS job vacancies data are any indication:
MacroBusiness has good coverage of the national data (ABS job vacancies fall), with Houses and Holes observing:
It appears that growth in the jobs market is weaker this year than it was last, so unless we see more falls in the participation rate, and all things being equal, unemployment must climb ahead, assuming there is sense in the ABS figures.
So, while Queensland’s economic prospects are good, we may need to prepare for a downturn in the other eastern States. I’ve previously posted on our exposure to the other States: