Service sectors add jobs, retail and wholesale shed staff

March 21, 201410:03 am283 views
Service sectors add jobs, retail and wholesale shed staff
Service sectors add jobs, retail and wholesale shed staff

Australia’s economy has posted its best quarterly jobs growth in a year, with health and education leading.

Detailed quarterly employment data, which breaks down jobs by industry sector, has been released by the Bureau of Statistics.

It shows that just over 50,000 jobs were added in the three months to January.

The data appears to reflect broader trends in the jobs market, with a shift towards services employment.

In particular, health and social assistance employment rose by an estimated 28,100 over the quarter, with ‘other services’ up 24,300 and education up 22,800.

Promisingly, construction also picked up, adding nearly 20,000 jobs over the three month period.

CommSec economist Savanth Sebastian says that growth is likely to continue, and may even accelerate.

“The fundamentals for housing remains strong – low interest rates, strong population growth and healthy total returns on property are likely to result in a further increase in demand for new housing,” he observed in a note on the figures.

“In fact building approvals lifted to record highs in January – suggesting further demand for construction workers in coming months.”

Interestingly, despite high profile job loss announcements in the sector, manufacturing posted a 13,900-strong increase in employment.

However, consumer related sectors have not fared as well in the figures, with the biggest job losses in retail trade (31,800), wholesale trade (24,900) and accommodation and food services (18,900).



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