Prospects for anyone carrying out labour hire in Queensland are strong at the moment, as activity in the sector has continued to rise over recent months. CommSec has released its State of the States report, showing that Queensland is one of the regions where construction work has been higher than average over the past ten years.The sunshine state has experienced an annual growth rate of 2.6 per cent, mainly due to the success of the resources sector and related industries.
Residential construction is expected to be one of the major areas for expansion over the coming months, as dwelling starts in Queensland are now 9.4 per cent higher than 12 months ago. However, the main area where Queensland excelled was in terms of business investment, while it ranked third among the states for its economic growth prospects. Part of the reason behind its expanding economy is the rising population, which has again largely been triggered by the resources boom and the employment opportunities it has created. Demand for properties of all types has escalated, particularly in mining towns where existing housing stock may have buckled under the pressure.Commenting on the statistics, state treasurer Tim Nicholls said they offer further evidence that Queensland is the place to be at the moment. He continued: "Queensland now leads the nation in business investment, with spending in the June quarter 37 per cent above the decade average. "Economic growth is 19.3 per cent higher than the decade average, retail spending is up 15.3 per cent and construction activity is 45 per cent higher than it was ten years ago."Mr Nicholls emphasised that Queensland came out on top in four of the eight economic indicators used in the report, which can only spell good news as the calendar year draws to a close.