The so-called Dutch Disease of a booming resources sector and a contracting manufacturing sector has been very evident in Queensland over the last few years, as seen in the chart below based on the latest vintage of ABS quarterly labour force data released today. The Dutch Disease is caused by a resources boom boosting the exchange rate and hence reducing the international competitiveness of our manufacturing sector.
Pete Faulkner has posted on today’s ABS regional labour force data:
FNQ unemployment rate up but the trend is down
Trend is your friend, as they say.