On Our Selection News
Covering Cambooya, Hodgson Vale, Westbrook, Wyreema Districts "DAD AND DAVE COUNTRY"
Vol. 25
THURSDAY, August 12, 2021
Regional economy booming
Despite the ongoing COVID-19 pandemic, the Toowoomba Region’s economy is in good shape, with the unemployment rate at a near-record low and key economic indicators showing positive signs. Toowoomba Region Mayor Paul Antonio (pictured) said employment figures were looking promising as the Region’s unemployment rate had fallen to a Queensland low of 3.6 per cent, which was down from 4.3 per cent in May, 4.4 per cent from the April 2021 figure and the lowest since December 2010. “The latest figures are most welcome, but as we near ‘full employment’, there are challenges for employers who are looking for skilled staff across many business and industry sectors,” the Mayor said. “Council is undertaking strategic planning on a Regional Growth Plan that will establish a coordinated and sustainable long-term population and employment growth strategy for the Region, as part of our wider Planning Scheme review under the Toowoomba Region Futures banner. “This will address future workforce needs and plan for servicing new growth areas that will support population increases and new employment opportunities.” The average Queensland unemployment rate for June 2021 was 6.8 per cent. Mayor Antonio said there was continuing good news on the youth unemployment front, with the region’s June 2021 youth unemployment rate dropping to 7.6 per cent, a drop of 17.8 per cent over the year and the largest drop among 19 Queensland statistical divisions. He said ongoing private sector investment would underpin a return to pre-pandemic growth and drive future jobs growth.
“Despite drought and unfavourable conditions, a projected $200 million rebound in our Region’s crop production, compared with 2020 figures, is forecast to see the gross value of crop production total $352 million in 2021,” the Mayor said. “The total gross value of agricultural production is tipped to reach $995 million in 2021, which is 3.2 per cent lower than the previous peak of $1.027 billion in 2018.” Mayor Antonio said the Region’s diverse economy had generated $11.6 billion in Gross Regional Product (GRP) in 2019-20, which equated to 3.1 per cent of the Queensland economy and supports an estimated 82,413 jobs.
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