Queensland Economic Review June 2008
Labour market
The latest data from the ABS show that the trend labour force participation rate in Queensland rose to a six month high in May 2008, reaching 67.1%. The rise reflects an increase in female labour force participation, which rose to an historic high of 61.0%, 0.6 percentage point higher than a year earlier.
Retail turnover
In nominal terms, Queensland’s trend retail turnover rose 0.1% in April 2008. As a result, the annual rate of growth in Queensland eased for the sixth consecutive month, to 5.4% in April. However, annual growth in the State remained higher than the 4.9% growth recorded in the rest of Australia.
Population
The latest ABS State Details data show that domestic demand growth in Queensland continued to moderate in March quarter 2008. State final demand (SFD), measuring the combined volume of household consumption, private investment and government spending, rose 1.3% in trend terms in the March quarter, easing from revised growth of 1.4% in December quarter 2007 and from a recent peak of 2.3% growth in March quarter 2007.
PLUS, IN THIS ISSUE . . .
- Dwelling approvals
- Overseas merchandise exports
- Major economic indicators by state
For Your Information
This month’s FYI provides forecasts for Queensland’s overall economic growth and individual components of the State’s economy for 2008–09, as well as estimates for 2007–08.
Last reviewed: Aug 22, 2008, Last modified: Aug 5, 2008
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