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Co-founder & CEO of AllenWargent property market & hedge fund advisory.
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Pete Wargent blogspot
Co-founder & CEO of AllenWargent property advisory, offices in Brisbane (Riverside) & Sydney (Martin Place) - clients include hedge funds, resi funds, & private investors.
4 x finance/investment author - 'Get a Financial Grip: a simple plan for financial freedom’ (2012) rated Top 10 finance books by Money Magazine & Dymocks.
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Friday, 23 December 2016
Employment growth slower in 2016
Employment growth slower
Total employment rose to above 12 million in November in original terms, but the rate of employment growth has been considerably slower in 2016 than in the prior year.
When you take a more granular perspective it's not hard to see why.
Sydney went on a blazing run in 2015, but over the past year has added only +14,800 new jobs, leaving Melbourne as the undisputed king of employment growth at +74,600.
Employment growth went backwards in regional New South Wales in 2016.
Brisbane has now reversed an unusual looking drop, and added +10,000 net new positions over the year, but both Perth and regional Queensland lost ground.
Looking around the traps, therefore, it's clear that Melbourne has been keeping the show on the road in 2016.
Across regional Australia as a whole total employment is lower than it was a year ago, with some regions faring better than others.
Unemployment rates have run quite high in a number of regions.
Perhaps the early signs of an employment rebound in Townsville?