Report uncovers the full extent of QLD jobless figures

QUEENSLAND'S jobless rate has hit a high of more than 23% above the decade-long average, a report on the state's economy has found.

In its latest quarterly State of the State, CommSec chief economist Craig James found the jobless rate peaked last year at 6.3%, or 23.1% above the trend average for the decade.

The Sunshine State had the second highest jobless rate of any state, beaten only by the Australian Capital Territory at 24% above the decade trend average.

But it wasn't all bad news, with the state's construction, engineering, equipment investment and retail trade propping up the economy.

Analysis of the state's final demand, exports and imports data found Queensland was the third best among all states and territories for economic activity.

Leading the pack was the Northern Territory, bolstered by the massive Inpex gas project, at 48% above the decade trend for economic activity.

Next in line were Western Australia and the ACT, with output about 34% and 21% higher than the decade average, respectively.

In Queensland, economic activity reached 18.1% above the decade trend figures, primarily on the back of resource industry activity and flood rebuilding projects.

Retail trade in the Sunshine State reached 15.1% above the decade average, behind WA at 25.5% and the NT at almost 21% above average.

Equipment investment was also strong in Queensland, up 30.1% on average, again behind WA, which rated a massive 100.7% above the decade trend.

In construction, the resource states of Queensland and WA led the pack, at 52% and a huge 95.9% up on the decade trend average.



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