The October unemployment figures show the number of people out of work in the Far North dropped to 6.9 percent, down 0.8 per cent on the previous month. About 3500 people found work in October, largely driven by surges in tourism numbers and a slight recovery in the construction sector.
Advance Cairns chairman Russell Beer said it was the first time he had full confidence in the official figures after watching the rate see-sawing from 12.4 per cent in January, down to 8.9 per cent in May and then back up to 10.3 per cent in July.
"7.9 per cent is great, that’s pleasing, I wasn’t expecting it below 8 per cent," Mr Beer said.
"I think we are seeing the economy picking up."
"We've (Macdonnells Law) have had a lot of business in the past three months, particularly people from out of town investing in property again." Read full article
The region's current trend unemployment rate of 9.1% is still much higher than the State's trend average of 5.4 percent, however the economic fundamentals in Cairns are continuing to gradually improve.
With the economy remaining on track for continued slow recovery over the coming months we are seeing new buyers entering the property markets and the overall industry remains confident in sustained future growth.
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