Tag Archives: abs

Deep recession to be quantified in June qtr National Accounts released tomorrow

Age/SMH Senior Economics Correspondent Shane Wright has written a great summary of the business indicators data released yesterday by the ABS: An economy like 2016 as sales and wages collapse. The business indicators data are pieces of the jigsaw puzzle … Continue reading

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Mining & Ag have partly shielded several Qld regions from COVID shock

As shown in my post on the latest payroll jobs data from the ABS, the regions which have fared the best in Queensland since the COVID-related economic crisis began in March are Toowoomba and Central Queensland, likely due to the … Continue reading

Posted in Agriculture, Labour market, Mining, Toowoomba | Tagged , , , , , , , , , , , | Leave a comment

Gold Coast and Inner Brisbane the worst affected Qld regions in employment terms

According to the latest regional payroll jobs data released by the ABS today, in early August employment on the Gold Coast was still 6% below the level it was mid-March, before all the major COVID-related restrictions began (see chart below). … Continue reading

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Economic Update – US GDP, Gold, and Aussie jobs & CPI

In my latest video, I review the economic news of the past week, including US GDP, the record high gold price, and Australian jobs and CPI data in this time of the COVID-19 second wave. Incidentally, I highly recommended you … Continue reading

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Australia’s upcoming mini-Budget

Australian Treasurer Josh Frydenberg will hand down a mini-Budget this Thursday, and it’s coming just in time, given the growing concern over the spread of COVID-19 in Victoria and NSW. I recorded a video earlier today with some thoughts on … Continue reading

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Retail rebound in Australia – latest video

My latest video is about the retail rebound revealed by the May Retail Trade data published by the ABS yesterday (Retail turnover rises 16.9 per cent in May). You may also be interested in the Queensland Treasury Retail Trade brief … Continue reading

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Aussie unemployment & underemployment video

In my latest video, I expand on my post from last Monday True Queensland unemployment rate around 12% and discuss just how bad the Australian labour market is at the moment. Thanks to those readers who commented on the post … Continue reading

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True Qld unemployment rate around 12%

The true Queensland unemployment rate is around 12% rather than the official 7.9%. I’m not suggesting the ABS is being tricky. The ABS is accurately applying the internationally accepted Labour Force Statistics methodology. But we must look beyond the ABS … Continue reading

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Official Qld unemployment rate of 7.9% doesn’t tell the full story

It’s obvious the official unemployment rate figures from the ABS are understating the true unemployment rate due to large numbers of people having left the labour force, evidenced by the collapse in the workforce participation rate. The official estimates for … Continue reading

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Jobs coming back as economy reopens

The AFR’s Matthew Cranston has nicely summarised the latest payroll data published by the ABS yesterday in his article Job market crawls off floor as recovery begins: The worst appears to be over in the job market with Tax Office … Continue reading

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