Pete Wargent blogspot

CEO AllenWargent Property Buyers, & WargentAdvisory (institutional). 6 x finance author.

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Thursday, 22 February 2018

Sydney unemployment rate keeps falling

Sydney tightens

Sydney's annual average unemployment rate fell to just 4.58 per cent in January 2018.

The annual average has been lower, in 2008, when the unemployment rate briefly snuck below 4.2 per cent. 

In Adelaide the annual average fell to 6.49 per cent, in Perth it fell to 6.14 per cent, and in Melbourne to 6.1 per cent.

So there have been some improvements. 

However, only Sydney has anything remotely approaching a tight labour market on this evidence. 


The good news for Queensland is that both hiring and participation are picking up.

And it's happening not just in Brisbane, but right across the state.


Cairns and Townsville in particular are also now recording stronger rates of employment growth, after the downturn.


Meanwhile the coastal Queensland locations such as Gold Coast and Sunshine Coast have been improving for some time on the back of the lower dollar.