Employment in the Far North reaches five-year high

It is generally accepted that employment is the best indicator of how an economy is performing, in turn affecting confidence within the local property market. With improved tourism conditions expected throughout the coming years as a result of growing international markets, Far North Queensland's trend employment rate, and in turn real estate market confidence, can be expected to continually strengthen.

THE Far North has hit a five-year workforce high, with 145,200 people in employment as a result of a bumper tourism season and a resurgent construction industry.

Nearly 5000 people more were hired last month compared with November and that figure was 8800 more than in December 2011.

Analysts say a vibrant tourism season, the new direct flights from China and more construction activity are behind the jump.

It follows a hearty November, when 2200 people left the dole queue and found work after 60,000 people flocked to the region for the solar eclipse.

Herron Todd White research director Rick Carr said the region's employment rose by 4900 in December to 145,200, the highest since the Australian Bureau of Statistics began breaking down regional labour figures in 2007. Included in the figures is Larissa Stremouchiw who has worked at the Salt House for the past month.

“This continued the strong run of employment growth that took place during 2012,” Mr Carr said.

“Far North Queensland bucked the statewide trend, where employment fell by 4300.” Mr Carr said unemployment increased from 8.1 per cent in November to 8.4 per cent as extra people started looking for work.

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“But the main news is the continuing jobs growth as a result of a much improved tourist season, the tourism boost from direct China flights and the building industry starting to stir again,” he said.

“Anecdotally I’m hearing that university graduates and school leavers are getting work straight away,” Mr Carr said.

He said this indicated that employers were confident about the economy and were hiring staff.

The next largest workforce recorded in the Far North was 142,800 in October 2008.

Tourism Tropical North Queensland sales and marketing director Brian Hennessy said the figures showed employment growth was closely related to tourism.

“The increase in employment comes on the back of strong growth in the domestic sector last year, the introduction of direct flights to China, the extra 60,000 visitors for the eclipse and a very buoyant Christmas and New Year holiday period,” he said.

Cairns Chamber of Commerce chief executive officer Debbie Hancock said the figures were “heartening news for the business leaders of Cairns.”

“Far North Queensland is no longer the highest unemployment region in Queensland. The growth of 4900 jobs since November shows that general business confidence is growing,” she said.

Member for Cairns Gavin King said with tourism on the up, the broader economy was now showing signs of confidence with good news emerging in a range of sectors, such as the automotive, home builders and marine industries.

“Recent examples include L.K. Motors, which quadrupled its turnover last year, and BSE Cairns Slipways growing its workforce from around 50 employees early in 2012 to more than 200 staff currently,” he said.

But Cairns-based Senator Jan McLucas warned that the region was now entering “a typically slower time of year for our local economy with the wet season keeping tourists away.”

“We do, however have Chinese New Year celebrations to look forward to which may help bolster this quieter time,” she said.

Tracy Carr, who graduated from James Cook University with degrees in law and business last year, obtained a job with Preston Law two months ago.

“I was quite surprised to get a job so quickly after graduating,” she said.

The 23-year old, said she was looking forward to a 12-month traineeship before being admitted as a solicitor.

Article printed in The Cairns Post – 25^th January 2013

Peter Musso licensed real estate agent at Ray White Smithfield selling property in Cairns' beautiful northern beach suburbs including Trinity Beach, Kewarra Beach, Clifton Beach, Palm Cove, Trinity Park, Smithfield, Yorkeys Knob, Holloways Beach, Machans Beach, Caravonica, Kamerunga and surrounds.