This week's national accounts focused my attention on Tasmania, with its six quarters of negative growth. I thought it was time for a more in depth look at the apple isle.
The employment data tells a similar story. Since the GFC, the number of people in jobs has been falling. The number of people unemployed has grown from 12,000 to 18,000 people. The participation rate has fallen. The unemployment rate has risen.
Let's look across some of the other domains of the economy. Dwelling unit approvals are down from almost 300 per month to just under 150 per month (trend).
Monthly retail turnover is sliding.
In short: some things are a bit rotten in the apple isle.