Unemployment falls again and South East Queensland is the outstanding performer
Brisbane prices are set to rise with increasing employment. The unemployment rate dropped back to 5.8 per cent in February, as the job market grew and the participation rate shrank.
The official rate compares with 6 per cent in January.
Queensland’s unemployment rate has tumbled to its lowest level since November 2011 at 5.6% just marginally higher than NSW. Lower unemployment is a factor which will affect Brisbane house price growth. Lower unemployment in Queensland is being accompanied by better state economic performance, also an indicator of further property price growth.
The Australian Bureau of Statistics said on Thursday that employment edged up just 300 in the month, with almost 15,900 new full-time jobs offset by a fall of 15,600 in part-time jobs. This compared with economists’ expectations of a net 13,500 gain.
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