Latest Capricorn Enterprise Economic Report reveals a prospering regional economy
Posted on November 23rd, 2022
Agriculture production up, health care and social assistance growing, resource industry contributions increasing and much more
The Capricorn Enterprise Regional Economic Report has been updated with recent unemployment and industry data from a variety of statistical sources, including the 2021 Census.
Capricorn Enterprise CEO, Mary Carroll, said, “While growth in the health care sector was to be expected, the report has also revealed increasing growth in the value of housing, decreasing unemployment, re-bounding airport passenger numbers and positive news for the economy of our region.”
The National Institute of Economic and Industry Research has estimated that the value add of all local industry is more than $5B in the Capricorn Coast and Rockhampton region with health care and social assistance the largest sector, $707.7M or 11.9% of the total.
Contributions to the regional economy from the Resources Industry have also continued to grow in the Capricorn Coast and Rockhampton Region with $245m in wages paid directly to 2,726 full time employees and $783m for goods and services purchased locally in 2020-21.
The agricultural sector has seen significant increases in the value of production, up from $162.4M in 2016 to $239.8M in 2021, with approximately three-quarters of value coming from livestock production and one-tenth from fruit crops.
In the June quarter 2022, unemployment across the Capricorn Coast and Rockhampton region (4.7%) has continued to trend down to record lows, with an unemployment rate of 3.0% in Livingstone Shire, lower than the Queensland rate of 4.6%.
“While it’s always great to see job growth in our region, it’s even more pleasing to know that the majority of this jobs growth has been met by people living here,” said Mary.
The number of jobs counted in the Livingstone Shire has also grown by more than 1000, from 8,875 at the time of the 2016 Census to 9,962 in 2021.
Mary said, “With less than an estimated 600 people across the Livingstone local government area seeking employment, there continue to be employment opportunities for other job-seekers in the growing area.”
Results from the 2021 Census, for example, show that there were more employed people living in the Livingstone Shire, up from 15,429 at the time of the 2016 Census to 17,630 in the 2021 Census.
In 2021, more than half of the Livingstone Shire’s employed people (9,521 workers) commuted to work in other local government areas with the majority working in the Rockhampton Regional Council, which reflects the growing desire for coastal living.
“The greater increase in the number of employed people living in Livingstone Shire, shows what we’ve known for some time: the Capricorn Coast is a popular place to live with people are willing to commute to work when they can live in communities like these.”
Read the full Economic Report here: capricornenterprise.com.au/wp-content/uploads/2022-ED-profile_Nov.pdf
Copies of the Livingstone Shire Council and Rockhampton Regional Council profiles are available and can be requested from Carmel Humphries (carmelhumphries@capricornenterprise.com.au or phone 4927 2055) at Capricorn Enterprise.
