Queanbeyan’s unemployment rate defies national trend and CBD vacancies low

30 September 2015

Queanbeyan’s labour force has bucked the national trend with the local unemployment rate falling almost half a percent to 1.8% in the June quarter.

Figures released by the Federal Government’s Department of Employment show that of the Queanbeyan Local Government Area’s workforce of 24,841 only 452 were unemployed, down from 730 in the June quarter of 2014.

“These are very pleasing figures and bode well for the Queanbeyan Local Government Area,” Queanbeyan Mayor, Cr Tim Overall said.

“Queanbeyan is performing well as a local government area and our unemployment rate of 1.8% is very impressive when compared to the national unemployment rate on 6.1%.

“It is no secret that a high percentage of Queanbeyan’s labour force is employed in the ACT, however Queanbeyan is also an employment hub with people travelling from the ACT and nearby towns to work in Queanbeyan.”

The statistics show that the unemployment rate dropped in all Queanbeyan suburbs, including Karabar (dropped from 4.4% to 2.6% from June 2014), Queanbeyan (from 4.4% to 2.8%), Queanbeyan East (from 3.3% to 1.9%), Queanbeyan West and Jerrabomberra (from 1.3% to 0.9%).

Queanbeyan compares well against most areas, with the NSW unemployment rate 5.9%, the ACT 4.5% and similar-sized regional centres such as Albury (12.6%), Bathurst (6.3%), Tamworth (7.9%) and Goulburn-Mulwaree (4.5%).

The positive unemployment figures come on the back of a recent Queanbeyan City Council report on commercial and retail floor space vacancy in the CBD. The report, which was undertaken in the first half of 2015, showed a vacancy rate of 6.33% in the Queanbeyan CBD.

“Council has recently established an Economic Development Unit which will work closely with current and prospective businesses to ensure good outcomes from the businesses and Queanbeyan. The Unit is in the process of developing an Economic Development Strategy for Queanbeyan which aims to build upon our local economy’s strengths and further enhance our positive economic statistics.”