The slow economic recovery of Cairns continues with tourist numbers maintaining their rise and unemployment steadily decreasing while the construction industry remains quiet, according to a new report.
CairnsWatch author Rick Carr said there had been little change in the region’s key economic indicators. “Employment in the Far North is still rebuilding in intensity, albeit not quite as rapidly as suggested in previous months,” he said. The number of people employed in the Far North region was 135,700, down 100 on July last year. “While employment growth slowed, it is still very much on an upward trend,” Mr Carr said.
He said the unemployment rate remained volatile and was 8.2 per cent in July with the trend 8.8 per cent, above the state average of 5.3 per cent. “The trend rate continues to decrease and should diminish further as regional employment strengthens,” Mr Carr said. The number of jobs advertised in The Cairns Post rose in July but the rate of increase was tapering off. There were 317 job vacancies advertised a week, up 17 per cent since December. Mr Carr said international passenger numbers were strong, rising by 9.1 per cent since December while domestic travellers remained flat, although at record high levels.