At least 46,000 people have been added to the Queensland workforce in the past year with the latest data showing the state’s job market is booming.

While employers have been screaming out for more workers, itās clear people have been responding.
The wave of new workers can be explained by the continued strength in interstate immigration as well as that from overseas. It also points to more people who werenāt interested in working rejoining the workforce.
In the smoothed-out trend data, the stateās workforce increased by 7000 in a month and 46,000 over the past year. The seasonally adjusted data shows a much bigger increase of 29,000 in a month and 60,000 for the year.
Fulltime jobs in the state have increased by 11,000 in the past month and 42,000 in the past year.
Even with that sort of jobs growth, the monthly unemployment rate increased slightly to 3.9 per cent in Queensland. Nationally, the unemployment rate remained at its 50-year low of 3.5 per cent.
ABS head of labour statistics Lauren Ford said there had been consecutive months of strong growth in female employment (up 81,000 over the past two months), which meant the female participation rate increased to a record high of 62.5 per cent, and their employment-to-population ratio also hit a historical high of 60.4 per cent.
āOver the past 12 months, hours worked has increased 5.5 per cent, outpacing the 3.3 per cent increase in employment. Since March 2020, hours worked have increased 8.4 per cent, compared to a 7 per cent increase in employment,ā she said.
āThe strength in hours worked relative to employment shows the high level of demand for labour, to some extent, is being absorbed by people working more hours.ā
Treasurer Jim Chalmers said the data was a remarkable outcome given the pressures on the economy.
AMP Capital economist Shane Oliver said the strong jobs data added to the risk of another RBA interest rate hike.
āHowever, the jobs market does not appear to be getting tighter and falling job openings and the return of immigration points to a softer jobs ahead, so it makes more sense to stay on hold.ā
The RBA is also more likely to look towards the quarterly CPI data due out later this month.
Queensland Treasurer Cameron Dick said the stateās market strength was supported by ānation-leading business conditionsā, which he said continued to rank well above the national average.
āThe latest ABS regional Labour Force data shows the strength in Queenslandās labour market extends right across the state,ā he said.
āIn 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 an historic low of 2.2 per cent.
āWith a diverse economy, pro-business government and highly-skilled workforce, the conditions are right for Queenslandās growth story to continue.ā
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