Public sector job cuts may be showing up in unemployment data

The Queensland unemployment rate slightly increased in August (see the nice OESR chart below), and the public sector job cuts (and hiring freeze) we’ve seen so far are a likely contributor, although again I’d caution not to read too much into one month’s figures, given the sampling error associated with the labour force survey.

The Queensland budget is released next Tuesday and we’ll finally know the magnitude of the cuts and the likely short-term impact on the Queensland economy.

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