{"id":1288,"date":"2016-07-22T01:24:54","date_gmt":"2016-07-21T15:24:54","guid":{"rendered":"https:\/\/roubler.com\/nz\/?p=1288"},"modified":"2021-03-09T02:56:24","modified_gmt":"2021-03-08T15:56:24","slug":"labour-force-june","status":"publish","type":"post","link":"https:\/\/roubler.com\/nz\/resources\/blog\/labour-force-june\/","title":{"rendered":"NSW & Victoria- Australia’s Economic Heavyweights"},"content":{"rendered":"

The ABS<\/a> has just released its Labour Force Statistics for the month. On the back of Australia\u2019s China-fuelled resource spending the economy has been a popular theme\u00a0due to\u00a0the multi speed growth. However, reality is now setting in. Mining resource investment in some states\u00a0provided the main support for Australian economic growth at the beginning of the century. Over the past two years\u00a0the sharp decline in the mining sector\u00a0has seen evident weakening in the pace of economic growth in most states across Australia, exclusive of New South Wales and Victoria.<\/p>\n

Geographically, New South Wales and Victoria represent a\u00a0relatively small area\u00a0of Australia. However,\u00a0as the saying goes- ‘size doesn’t matter\u2019, the joint\u00a0labour\u00a0forces of the two are far from small, representing more than 57% of Australia\u2019s labour force. The issue thereby lies not in economic strength subsiding in these areas but the lack thereof in other states. The question being raised is, can New South Wales and Victoria continue to carry the weight\u00a0in terms of\u00a0Australian economic growth?<\/p>\n

 <\/p>\n

Employment Statistics- June 2016<\/h3>\n

For the year ending June 2016 national employment rose by 225, 00. Employment in NSW and Victoria over the same period rose by 97%. Outside of these two states, the national labour force experienced only 3% of the total annual employment growth. Unemployment statistics followed the same trend with a 0.2% decrease in unemployment between June 2015 (6.1%) and June 2016 (5.8%). Alternatively, NSW &\u00a0Victoria combined saw a 0.5% decline in unemployment, from 6.0% in June 2015 to 5.5% in June 2016.<\/p>\n

Looking ahead, the economic strength of New South Wales and Victoria could potentially continue,\u00a0although\u00a0the probability of such an outcome is declining. Employment growth looks to weaken in New South Wales and Victoria over the next year. The employment growth in NSW and Victoria of 97% in inevitably going to be difficult to sustain. There are now reasons to predict a decline in the relative strength of New South Wales and Victoria with no evidence to support strengthening in the other states of Australia.<\/p>\n

 <\/p>\n

Labour Force Statistics from the Australian Bureau of Statistics:<\/h3>\n

 <\/p>\n

\"June \"June<\/p>\n

 <\/p>\n

\n
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The ABS has just released its Labour Force Statistics for the month. On the back of Australia\u2019s China-fuelled …<\/p>\n","protected":false},"author":13,"featured_media":1290,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[66],"tags":[133,5,131,134,34,60,132,39,19],"class_list":["post-1288","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-hr-headlines","tag-australia","tag-casual-workforce","tag-economy","tag-employment","tag-hr","tag-job","tag-labour-force","tag-roubler","tag-workforce-management-software"],"yoast_head":"\nNSW & Victoria Australia's Economic Heavyweights - Labour Force<\/title>\n<meta name=\"description\" content=\"Nationally, the labour force grew by 225,000 in 2016. 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