Regional Unemployment Index (RUIN) – February 2010
Sponsored by Local Government Association of Queensland.
The picture to February 2010.
Since the series began in November 2007 we have seen five basic changes, outlined in the monthly profiles below.
From February/March 2008, when seasonally adjusted unemployment nationally was low, the unemployment profile of part time and high SES workers began to rise, meaning that areas containing these high SES workers started to lose jobs before national unemployment began to rise.
Higher SES workers are typically in industry groups such as Professional Consultants (correlation between the Unemployment Profile for high SES workers and Professional Consultants was plus 0.96). Consultants typically have the most casual employment contracts and are probably the easiest industry group to sack. At this time, interest rates were high and getting higher; mixed signals appeared in other economic indicators and Government fiscal policy was reasonably neutral.
Read Full Report – LGAQ – Regional Unemployment Index (RUIN) – February 2010
|Disclaimer: The Labour Market reports and associated maps have been prepared as an educational and public relations exercise and have not been designed as an advisory tool for business and we take no responsibility for those who use either of them for these purposes. The sampling errors for smaller Labour Force regions are often large and the raw figures used cannot be easily adjusted for seasonal trends. The statistical significance of the profiles also need to be considered. We repeat, caution is urged in any interpretation of these statistics. We acknowledge and thank the Australian Bureau of Statistics for the provision of original data, Dr Otto Helwig of MDS for the HES micro simulation modelling and Phil Henry of Business Geographics for the mapping.|