Qld jobless rate not “historically high”

I agree with CommSec that Queensland is in the middle of the pack in terms of economic performance among the States, but I disagree with their observation in the State of the States report that “the jobless rate remains historically high.” While there has clearly been a slowdown in the labour market, the unemployment rate is nowhere near historical highs, as a quick check of historical ABS data shows:

unemploymentMy recent posts on the state of the Queensland labour market include:

Public sector hiring freeze continues

Disappointing vacancies data support Treasury’s very low employment growth forecast for 2012-13

 

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2 Responses to Qld jobless rate not “historically high”

  1. The Happy Hillbilly says:

    I can’t see how our unemployment rate is “historically high” either. Unless history begins 10 years ago. They do mention QLD unemployment being 14.2% above it’s decade level average so I take it that this is what they are referring to. But if that’s the context that they are framing the result in, they probably should have made it clearer.

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