The "beef boom". What a clanger.
I wouldn't have thought the unemployment rate in Townsville will have abated yet sufficiently to have become a tailwind. It has a long way to fall from the June quarter levels.
But I can't be 100% certain about that.
The unemployment stats on the chart, as bad as they look, do not actually tell the full story in terms of the impact to ONT, I don't think.
Townsville was not only impacted to a greater degree than any of the cities shown, it was probably the most impacted regional town/city (of any substantial size) in Australia (from what i have been able ti gather).
But it will have been worse than what those stats reveal. Not only did the local unemployment rate go up, the army of (affluent) FIFO's evaporated.
You are right, ONT has been through a really tough period.
The "beef boom". What a clanger. I wouldn't have thought the...
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