The Australian Bureau of Statistics (ABS) yesterday released quarterly employment data, which shows the healthcare & social assistance industry has comprehensively driven the nation’s jobs growth over the pandemic, while the manufacturing industry continues to shed jobs.
Australia added 113,600 jobs in the May quarter, led by wholesale trade (+43,700), with Education (-30,900) and manufacturing (-18,300) shedding the most jobs:
Over the year to May, healthcare & social assistance totally dominated jobs growth, with the industry’s 179,000 added jobs more than double the second placed Finance industry. By contrast, the manufacturing industry shredded 79,500 jobs:
Since the beginning of the pandemic in February 2020, Australia has added 530,100 jobs, with 43% of these (225,400) in the healthcare & social assistance industry. By contrast, the manufacturing industry has shed 79,600 jobs:
Sadly, while the healthcare & social assistance industry continues to boom:
Manufacturing continues to bust:
The situation is only going to worsen as the energy cartel forces up local gas and electricity prices, which will send many manufacturers to the wall.
Australia already had the lowest share of manufacturing in the OECD. It is about to get much lower courtesy of the East Coast energy crisis and our idiotic policy makers that continue to let the foreign owned energy cartel rob us blind.
