Published 12-03-2019

NO GAINS FORECAST FOR MANUFACTURING EMPLOYMENT

11-03-2019

If hiring intentions are anything to go by, Australia is continuing its shift towards a service based economy, according to the latest ManpowerGroup Employment Outlook Survey. While the Q219 survey reveals a net employment outlook of +10%, this is very much driven the public administration and education sector, offsetting notable declines across the transportation and utilities, mining and construction, and manufacturing.

The global survey collects data from more than 59,000 employers in 44 countries, including more than 1500 in Australia.

While nationally the public administration and education sector shows a net gain of +7 points for 2Q19 compared to the same period last year, this is offset by -7 point decline in the transportation and utilities sector over the same period. Other losers include mining and construction (-3), wholesale and retail Trade (-3), and manufacturing (-1) sectors.

For once, there are significant differences across the states and territories, with NSW down 6 points year-on-year compared with Queensland (+3) and Victoria (+1), and the smaller states and territories recorded even larger gains.

Elsewhere within the Asia-Pacific region, the strongest outlooks are reported in Japan (+27%), Taiwan (+18%) and India (+13%).

RELATED NEWS

  1. It’s never too early to get organised to protect and maximise the future value of your business.
    For most owners, their business is their number one asset, investment and income stream. Yet, according to recent research by accounting and advisory firm William Buck, 55% of owners do not have an exit...
  2. The Reserve Bank of Australia (RBA) has joined other major central banks, including the US Federal Reserve and the Reserve Bank of New Zealand, in going harder in the fight against inflation.
    On Tuesday, 7 June 2022, the RBA delivered a rate hike of 50 basis points, taking the cash rate to 0.85%....
  3. According to the Deloitte 2022 Manufacturing Industry Outlook, The global manufacturing industry is building back fast, undeterred by significant labour and supply chain challenges. To maintain this momentum, Deloiite suggests that manufacturers navigate elevated risks while advancing...