Author Archives: Gene Tunny

Mining riches should help pay off debt, not fund dubious regional development projects

Posted on June 19, 2012 by Gene Tunny

Just as it is odd to call for a sovereign wealth fund to save the benefits of the resources boom, so it is also odd to call for those benefits to be diverted to funding regional development projects. The Cairns … Continue reading →

Posted in Budget, Cairns | 2 Comments

Will Qld have problems rolling over its debt?

Posted on June 16, 2012 by Gene Tunny

The Queensland Commission of Audit report released yesterday contains a solid analysis of the risks facing the budget, some of which are highly probable (e.g. a blowout in the cost of the Commonwealth Games), and some of which are remote. … Continue reading →

Posted in Budget | Leave a comment

No surprises in Commission of Audit findings

Posted on June 15, 2012 by Gene Tunny

I’m unimpressed by the Commission of Audit’s findings that have been reported this morning, prior to the formal launch of its report later today. The Brisbane Times reports Debt paid Labor’s bills, which isn’t a revelation and wasn’t covered up … Continue reading →

Posted in Budget | Leave a comment

Unemployment remains high in Far North & Wide Bay-Burnett

Posted on June 14, 2012 by Gene Tunny

OESR’s information brief on the latest ABS regional unemployment data shows that unemployment remains stubbornly high in the tourism-dependent regions of Far North Queensland and Wide Bay-Burnett: These high unemployment rates are no doubt due in part to declines in … Continue reading →

Posted in Cairns, Labour market, Tourism, Wide Bay-Burnett | Leave a comment

Qld tourism recovers from natural disasters, but still below pre-GFC peak

Posted on June 13, 2012 by Gene Tunny

Tourism Queensland released its Domestic Tourism Snapshot for the Year ended March 2012 today, and it shows Australians are increasingly holidaying in Queensland and domestic tourism is out of the slump caused by the natural disasters in 2010-11. However, domestic … Continue reading →

Posted in Tourism | Leave a comment

Qld employer surveys suggest solid employment growth over rest of 2012

Posted on June 12, 2012 by Gene Tunny

In contrast to the depressing national NAB survey released today (see MacroBusiness for coverage), recent surveys of Queensland employers suggest a rebound in employment in the State, as reported in the Courier-Mail today (Job prospects on the up): According to … Continue reading →

Posted in Budget, Labour market, Macroeconomy | 1 Comment

Qld credit rating downgrade by Fitch would be unjustifiable

Posted on June 12, 2012 by Gene Tunny

Ratings agency Fitch has hinted it will downgrade Queensland’s credit rating again, according to a report in today’s Courier-Mail: QUEENSLAND’S battered credit rating looks set to take another hit with ratings agency Fitch preparing to downgrade the state’s outlook yet … Continue reading →

Posted in Budget, Macroeconomy | 2 Comments

Weak labour market consistent with Qld’s mediocre National Accounts data

Posted on June 7, 2012 by Gene Tunny

After seeing today’s new ABS Labour Force data, I’m worrying a bit more about the state of the Queensland economy. Employment in Queensland appears to have contracted slightly in recent months. Here’s a chart I’ve borrowed from OESR’s information brief: … Continue reading →

Posted in Labour market | 1 Comment

Business Council bemoans high cost of regulation

Posted on June 7, 2012 by Gene Tunny

The new Business Council of Australia (BCA) report released today Pipeline or Pipe Dream? presents interesting data on the high cost of delivering investment projects in Australia and comments that this could threaten future investment, exports and employment. Some of … Continue reading →

Posted in Infrastructure | Leave a comment

Queensland had lacklustre March quarter, while WA is hero of National Accounts

Posted on June 6, 2012 by Gene Tunny

I’m unclear why today’s ABS March quarter National Accounts have generated such surprise among commentators, as the data were wholly consistent with the two-speed economy we know we have. To me, the only new information was that the mining boom … Continue reading →

Posted in Macroeconomy, Mining | Leave a comment