The downside of state’s 6000 new jobs
THE Queensland economy added nearly 6000 jobs last month, however the state's unemployment rate remained the worst in the nation at 6.4 per cent.
The national unemployment rate surprisingly dropped to 5.2 per cent, down 0.1 per cent, after the economy added 39,900 jobs in November, eclipsing the 24,800 jobs lost in October, according to Australian Bureau of Statistics data released yesterday.
The jobs figures raised expectations among analysts that the RBA would cut interest rates in February next year.
Treasurer Josh Frydenberg said the figures demonstrated the "continued strength and resilience of the Australian economy".
"With 40,000 new jobs created in the month of November the unemployment rate has fallen to 5.2 per cent and the workforce participation rate remains around record highs," he said.
"What is particularly pleasing about these numbers leading into Christmas is the ongoing strength in female employment with 63 per cent of the jobs created in the last 12 months being taken up by women and with 9 out of 10 of those jobs being full time."
Queensland recorded the nations second largest job's growth on trend estimates with only Victoria putting on more workers in November.
The 5,900 new jobs pushed the total jobs created in Queensland in the past year to 63,100.
Queensland Treasurer Jackie Trad said the figures "endorsed" the State Government's plan to create more jobs in more industries.
"(The) data shows that, for every job created directly by the Palaszczuk Government since 2015 - whether as a nurse, a teacher, an ambulance officer, or a police officer - another six jobs have been created by employers in other sectors, across all parts of Queensland," she said.
"Over the past year alone, more than half of new jobs created in Queensland have been in regions outside Greater Brisbane."
Shadow treasurer Tim Mander said the date showed the state's trend unemployment rate had risen 0.3 per cent to 6.4 per cent in the last year leaving 173,600 Queenslanders stuck in the unemployment queue.
"No other state in Australia has a jobs crisis as bad as Queensland under (Premier) Annastacia Palaszczuk," Mr Mander said.
"More than 173,000 Queenslanders out of work doesn't happen by accident - it's a direct result of five years of economic failure by the Palaszczuk Labor Government."