The Gold Coast’s unemployment rate has hit its highest level in 17 years, and has more than doubled since the beginning of the coronavirus outbreak.
According to the Australian Bureau of Statistics, the jobless rate on the Gold Coast hit 8.8 per cent in May, up from 7 per cent in April and 4.1 per cent in March.
The rate hasn’t been that high since April 2003.
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But there are signs the recovery on the Gold Coast has already begun, with a slight overall increase in jobs in May.
That follows a massive drop of almost 26,000 jobs in April.
There was an increase of 6,100 part-time positions on the Gold Coast in May, reflecting the reopening of restaurants, cafes and pubs, but this was offset by a fall of 5,600 full-time jobs.
At the same time, the 12-month average unemployment rate only rose by 0.1 points to 5.7 per cent.
The massive jump in May’s overall unemployment rate is largely due to the increase in people who are back looking for work.
The participation rate increased from 61.3 per cent to 62.5 per cent last month, equal to almost 7,000 people.
As a result, the total number of people classified as unemployed on the Gold Coast jumped by 6,900 to 29,300.