Queensland’s trend unemployment rate was steady at 3.8 per cent in March 2023

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Queensland’s low unemployment continues Queensland’s unemployment rate is 3.8 per cent as at March 2023 Well below the pre-COVID-19 rate of 5.6% in March 2020 228,500 more Queenslanders now employed compared to pre-COVID levels   Queensland’s trend unemployment rate was steady at 3.8 per cent in March 2023, according to the latest data release from the Australian Bureau of Statistics, continuing the state’s strong labour market performance.  An additional 228,500 persons have been employed in Queensland compared to pre-COVID-19 levels in March 2020, including 58,200 more over the past year. Queensland’s participation rate of 66.3 per cent in March 2023 remains above the 65.7 per cent recorded in March 2020. The March 2023 NAB Monthly Business Survey confirmed that in trend terms, Queensland had the strongest business conditions of all mainland states at +26 index points. ABS trade data shows that Queensland’s overseas merchandise exports totalled $135.8 billion in the year ending February 2023, representing a $44.6 billion increase from a year earlier. Quotes attributable to the Treasurer and Minister for Trade and Investment: “Queensland’s nation-leading labour market strength is supported by our nation-leading business conditions, which continue to rank well above the national average. “The latest ABS regional Labour Force data shows the strength in Queensland’s labour market extends right across the state. “In Cairns, the unemployment rate in February 2023 was just 4.1 per cent; and in Central Queensland, 3.3 per cent in Mackay, 2.5 per cent and in Townsville, unemployment was down to a historic low of 2.2 per cent. “With a diverse economy, pro-business government and highly-skilled workforce, the conditions are right for Queensland’s growth story to continue.” Treasurer and Minister for Trade and Investment The Honourable Cameron Dick  Source: Queensland Government