13 Nov Jobs growth to accelerate led by mining
Originally published Courier Mail 13 November 2012
That would be more than double the 58,000 people who gained employment in the year to August 2012.
The biannual report by consultants Economic and Market Development Advisors (EMDA) forecasts modest jobs growth in every mainland state apart from South Australia, where the job market is expected to be flat.
EMDA’s Michael Emerson, the author of MyCareer Employment Forecast November 2012, said there had been a lot of business uncertainty after recent reports about China’s economic slowdown and the mining industry, and a rise in the national unemployment rate.
“But the overall outlook is quite encouraging as the economy continues to stabilise,” Mr Emerson said, releasing the report today that analyses national, state, industry, and demographic employment trends and figures.
The latest official data for October released last week showed the jobless rate unchanged from September at a two-and-a-half-year high of 5.4 per cent, after it jumped from 5.1 per cent in August.
EMDA’s report predicts Western Australia will lead the way with 2.5 per cent employment growth in the year to August, followed Queensland at 1.2 per cent.
The nation’s two largest states, NSW and Victoria, are both forecast to have 1.1 per cent growth.
By industry, based on forecasts for the year to May 2013, mining employment is expected to surge by 10.2 per cent, while engineering is forecast to rise by 3.6 per cent.
However, government jobs, construction and property, and manufacturing are all seen in decline.
“Losses of jobs in the next year will primarily be as a result of public-sector job cuts and the strength of the Aussie dollar, which will send more of our manufacturing jobs overseas,” Mr Emerson said.