Wednesday 4th January 2017 - 7:08 pm

Job hunting? make it strategic

by Alan Thornhill


Australia’s mining industry still offers some of Australia’s highest salaries even though its boom is now over according to   new study.


However people who want  steady work, in the years ahead, might be better advised to think looking for a job in our health or social assistance industries.



These are among the main conclusions of the regular study conducted by Bankwest, a division of the Commonwealth Bank.


Bankwest said Australia’s retail industries had overtaken manufacturing as the nation’s biggest employer in 2002.



It said:  “…(they had) then held top spot until it in turn was overtaken by health and social assistance in 2010.


“No industry has displaced health since then, and probably won’t, due to the ageing of the population,” Bankwest concluded.


Its Chief Economist, Alan Langford, said: “Manufacturing’s share of total employment has fallen from almost 16 per cent in the early 1990s, to less than 8 per cent now.


“Retail’s share is little changed at around 10½ per cent – it was 11 per cent in the three years to 1991, and peaked at 11.8 per cent in 2005.


“Health and social assistance’s share has grown from 8½ per cent a quarter of a century ago, to just over 12½ cent in the mid-2010s.


“Retail trade’s average 10.6 per cent share of total employment in the three years to 2016 leaves it as the nation’s second largest employer, followed by construction at 8.9 per cent, then professional and scientific services at 8.3 per cent.


“ Manufacturing’s 7.7 per cent puts it behind education and training at 7.9 per cent.


“Nevertheless, manufacturing’s share may have troughed – its share in 2016 was up a bit on 2015, while on a quarterly trend basis, it troughed at 7.3 per cent in early 2016, and has since ticked back up to 7.8 per cent,” Mr Langford added.

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Alan Thornhill

Alan Thornhill is a parliamentary press gallery journalist.
Private Briefing is updated daily with Australian personal finance news, analysis, and commentary.

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