QLD Queensland boosted the biggest unemployment drop

Great news for all the the members who has a good portfolio in Brisbane. Unemployment has dropped from 6.2% to 5.7% in just in a month and have been dropping like crazy in 2 consecutive months.

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Looks like there are better things to come with amazing growth in various exports, commodity price, upcoming infrastructure projects and tourism in the past year alone. I think the stars are starting to align.

I think Brisbane is very well positioned for a massive property boom in the next 2-5 years. I don't mean to hype, but I really think it would be a great time to invest there if you haven't already done so.

 

Wow. Good stuff. Yes Brisbane positioned well. Gold Coast even better.

 

If this is right, then this is going to be the missing puzzle behind why Brisbane hasn't yet boomed. All the other factors are there: affordability, immigration has been growing, many new projects in the pipeline, low interest rates. Commentators have been predicting this for a long time. Are we on the cusp of a city wide boom? It's already happending in some parts of Brisbane where annual rises above 10% are not uncommon.

 

isn't that because the qld government has been creating a ridiculous amount of government jobs that the newman government got rid off?

 

Great stats- has been part of the missing link.

 

I don't see what's wrong with more public servant jobs in QLD. PS earn very high salary which helps drive the service and hospitality industry. We see this effect more evident in Canberra where there are over 50k PS!

 

Has anyone got any figures to show that the jobs boom is partly due to the Qld government creating 'a ridiculous amount of government jobs'?

 

The attached table has shown that QLD employment rate is equal second best with SA out of all 6 major states.
Not bad at all considering it was one of the worst just 3-4 months ago.

 

Incomes & unemployment is only one piece of the puzzle. Supply & demand (with employment growth comes migration), and availability of credit (APRA clamping down on lending) are what I would consider the other major aspects.

When it is evident that Sydney and Melbourne are slowing down (now/early next year?) I think the APRA lending tightening will peel back and this might be the last piece of the puzzle that see's Brisbane take off.

 

PS earn a very high salary? Other than the executives, the majority of the APS staff members have not experienced much of a pay increase. Not sure about in Canberra, but the salary gap between the NSW and Fed staff is pretty noticeable.

 

Awesome....go Brissie!

 

Public Service dont earn a very high salary ( compared to the equivalent role in the private sector). However, the difference is not much. Public salaries are only a bit less however they have much higher security than the equivalent Private. For many, that extra security is worth the differential. Thats probably the main reason why people take up public sector jobs - the security.
As for wage increases, they ( public sector) are mostly unionised, whereas the private equivalent are mostly not. This means that unions will fight for pay increases, may or may not be independent of quality/productivity gains their members provide. Pay rises in private are hard ( especially in a low/no growth environment), you are on your own and dependant on your negotiation ability (amongst other factors).
Private sector is , in my view, much harder- no security, higher risk, etc...all for only a smaller amount of pay increase than Public sector. However....in terms of marketability, believe me- future employers greatly favour Private sector experience ( with a possible exception of if you want to go from Private to public, even then, you would be competitive. ) Not true going from Public to private. This tells you what employers value.

 

I dont put much stock in these reports- as ive said many times, just too much of a variance in an entire state. Really needs ti be localised to LGAs to get a better picture....unless you have or plan to invest in most if not all LGAs in QLD!
Analagous to: index performance vs sector ( or even individual stock) performacne.
If the index goes up, i wouldnt be saying the individual stock i own also go up by the same amount ( or that they even go up)...sure the index has some influence on the sector or type of stock, but there are many more localised factors that influence cg more than the wider index peformance.
unless ofcourse, you buy the entire index....

 

I get your point there JDP1, but given the significant role of Greater Brisbane(~50% of the total QLD population) in overall Queensland economy and employment, the analogy would be equivalent to how much of all the banking and mining shares combined can affect the ASX index.

 

APRA is only clamping down on investor lending, not on Owner Occupiers. In fact, interest rates for OO seem to be coming down with some great deals at the moment. Even the supply of apartments is coming down with some commentators stating that it's falling faster than a lot of people think. With increased immigration and jobs, the demand is going to increase. I'm confident now that Brisbane is going to take off soon.

 

BrisBoom coming. All punters Stay tuned.

 

Yep...from all accounts...this is happening....nitrious will be in the Brissie take off engines from 2019......at the same time Sydney starts correcting.....just normal cycles...

 

brisbane will boom, as soon as we stop hyping it on the (in)famous hype brisbane thread.
When it does, punters from istanbul to ithica,NY will be envious of the rapid and substantial growth.
myself and @Tekoz will take full credit for the boom

 

punters have been staying in tune for years. Brisbane isnt going to boom; better off investing in places like st.mary's and surrounds.