Tide turns: Expert reveals economy at record high & growing
ROCKHAMPTON'S building and construction industry is on the verge of strong and continued growth with key indicators showing broad-based recovery across all sectors.
Data expert Robert Sobyra said it was a good time to be in the construction industry in Central Queensland and a good time for builders to employ apprentices.
Mr Sobyra is Construction Skills Queensland's director of data and evidence and said construction in Central Queensland would grow at 11 per cent a year for at least the next three years.
"Rockhampton is posting positive economic growth for the first time since 2014," he said.
"This is being driven by green shoots that have been appearing over the past 12 months.
"It's clearly an upward trend and we think it will continue to trend upward."
In the past 12 months, unemployment in the Rockhampton region has fallen from 8.5 to 5.1 per cent.
According to Mr Sobyra, population had been in negative growth since 2014 but he expects that trend to have turned the corner when figures are released later this year.
"The growth is specifically in construction with major projects emerging," he said.
"All big projects will have local contract requirements - local subbies and local labour - that's employment growth, then there's the multiplier effect.
"The tide has definitely turned, the economy is on an upswing."
He added that forecasting beyond five years was a mug's game, but out to 2022, "without any shocks to the system", Rockhampton could expect positive growth.
Mr Sobyra will speak at an Urban Development Institute of Australia lunch in Rockhampton next week where he will present CSQ's forecast.