Queensland now two years away from good times, says report
HIGH unemployment and weak job growth will see Queensland take at least two years to regain its "sunny, feel-good" factor, according to separate economic reports released on Monday.
But the state government has found reasons to be cheerful, citing improvements in housing construction, tourism and the foreign education market as highlights of the reports.
CommSec's quarterly State of the States index ranks Queensland as the fifth-best performing economy in Australia, unchanged from January, with strong business investment undermined by high unemployment and slow population growth.
Deloitte's Business Outlook for the March quarter reports "the headwinds hitting Queensland's economy have been gathering momentum", with the fallout from the winding down of the mining boom impacting sooner than expected.
However it recognised that Queensland had a "lovely" growth portfolio, with tourism and foreign education benefiting from the falling Australian dollar and housing construction and approvals lifting off the back of low interest rates.