Labour force data released by the ABS today shows changes in employment by industry (ANZSIC divison 1) over time.
The changes over the past 3 months, 12 months, 3 years and 5 years demonstrate the volatility of the Tasmanian employment market and the impact of factors such as economic conditions (locally and globally) and policy intervention. The table below shows the difference in the number of people employed in each industry sector in May 2015 compared with the previous period in each column.
The changes over the past 3 months, 12 months, 3 years and 5 years demonstrate the volatility of the Tasmanian employment market and the impact of factors such as economic conditions (locally and globally) and policy intervention. The table below shows the difference in the number of people employed in each industry sector in May 2015 compared with the previous period in each column.
Comparing employment figures to the previous 12 months removes the seasonality factors associated with the quarterly difference and coincides with the stabilisation of the Tasmanian economy and a new Government and policy direction.
Since May 2014, the greatest employment gain has been in the Professional, Scientific and Technical Services industry sector which encompasses architectural, engineering, legal, accounting, advertising, market research, management, consulting, veterinarian and computer design services. The greatest employment loss has been in the Accommodation and Food Services sector. The below table shows the change in employment for each industry sector compared with May 2014.
Since May 2014, the greatest employment gain has been in the Professional, Scientific and Technical Services industry sector which encompasses architectural, engineering, legal, accounting, advertising, market research, management, consulting, veterinarian and computer design services. The greatest employment loss has been in the Accommodation and Food Services sector. The below table shows the change in employment for each industry sector compared with May 2014.
In terms of whether employment growth has been in wealth generating, essential services or consequential industry sectors (as per my recent blog), growth has been dominated by jobs in the essential services sectors, particularly the health care and social assistance sector which is consistent with projected increasing demand resulting from an ageing population and the roll out of the NDIS. Employment losses are evident in the consequential sectors such as accommodation and food services and construction. Since May 2014, there has been minimal net growth in wealth generating industries, with growth in manufacturing compensating for losses in mining and agriculture, forestry and fishing.
If Tasmania is to become more self-reliant, job creation efforts need to focus on growth in the wealth-generating sectors which will then support growth in the consequential sectors and assist provide, and fund, essential services for the broader population.