Jobs growth on the Gold Coast continues to go backwards with another 900 jobs lost in January.
The local economy has now shed 3,800 jobs since October last year in a worrying trend for the city.
However the Gold Coast’s unemployment rate has remained steady at 5.7 per cent in the last month, due to less people looking for work.
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The participation rate fell from 69.1 per cent in December, to 68.7 per cent in January.
Serious concerns are emerging about the downward trend in employment on the Gold Coast with the figure expected to worsen because of the effects of coronavirus.
The virus is estimated to have already cost the Gold Coast economy around $500 million with experts saying job losses are inevitable.
The unemployment rate has increased by a worrying 1.3 per cent in just the last 12 months.
Of equal concern is the rising youth unemployment rate on the Gold Coast which is now at 13.2 per cent, an increase of 5.3 per cent on January 2019 figures.
Bonney MP Sam O’Connor, says the situation is even worse in his electorate which includes suburbs such as Labrador, Arundel and Parkwood.
“My electorate has got the highest unemployment rate (on the Gold Coast) which is almost at 11 per cent, which would mean the youth unemployment rate especially is about is double that,” Mr O”Connor said.
“In my area alone there are 3000-odd people looking for work and it is a real concern, it’s not what you expect on the Gold Coast.
“But it shows that we’re copping it like the rest of the State. Queensland has the highest unemployment in the nation and the Gold Coast is not immune to that and we should be doing better.”
Mr O’Connor argues a bit part of the problem is the Government’s slow approach to infrastructure projects including the light rail and Coomera Connector.
“The government has also introduced nine new taxes in the time they’ve been in. That means people give more money to the government and they’ve got less money to employ people with, all those things add pressure to businesses.”