Townsville: The Brasilia of North Queensland
Todays unemployment data was not good for North Queensland:
Conus: April jobs numbers are horrible for the North
Sadly I am without my computer and files until next week. However the talk was all the unemployment spike in Townsville. We should note here that defence forces are excluded from the ABS survey. Townsville Enterprise proudly proclaim that defence households account for about 10% of Townsville population. We also know that Townsville has relatively high public sector employment apart from that.
So what does this say about the current condition of the private sector in Townsville?
Response: build a football stadium. Go Brasilia!
Great read about Brasilia, interesting stuff. In regards to private investment in Townvsille commercial and industrial is holding up quite well, domestic has fallen off a cliff. I have about $1 billion total worth of projects on my planner, industrial, commercial and retail, of which approx $400 million is private investment, below the average but still substantial in the current environment.
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Thanks Glen. I couldn’t keep my sarcasm gene under control yesterday sorry. I had noted before that the value of non-residential approvals this year for Townsville was outstanding and had been wondering what that was and how “locked-in” it was to actually progressing. I guess you have answered some of that thanks.