Department of Employment: Australia to become a bed pan economy

Since the Global Financial Crisis (GFC) struck in 2008, the lion’s share of Australia’s jobs growth has come from Healthcare & Social Assistance, which has accounted for 590,000 jobs created:

The Department of Employment has released its Australian Jobs Report, which projects that Healthcare & Social Assistance will continue to dominate jobs growth, alongside other population-driven industries. From SBS News:

According to the Department of Employment, Skills, Small and Family Business, most new jobs will be created in four specific industries – Health Care and Social Assistance, Construction, Education and Training and Professional, Scientific and Technical Services.

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.