However, despite the doomsayers and those that predict the worse for the Australian manufacturing industry, closer scrutiny reveals other sectors which show great promise, and therein are opportunities to explore.
For example, the following sectors have shown the opposite trend where employee numbers and income generation has actually gone up.
Food and Beverage Services
Since 2007, there has been a steady increase in the employment rate in the sector of food and drink services. There is a 28 percent increase in the sector’s total wages from 2007 to 2012. Based on the same data, the Australian industry growth has added 30% value to the economy. There are 814,000 jobs and the average wage is $20, 506 p/a.
Heavy Civil Engineering/Construction
Compared to the Australian industry growth which only has almost 10% increase, the heavy and civil engineering construction a total of 87% increase in the total wages from 2007 to 2012. The Australian industry growth has also added 30% to the economy while heavy and civil engineering construction as doubled at 66%.
Private Social Assistance
The private social assistance services has also observed a promising growth. The sector has afforded 309,000 jobs. It also has 57% value added to the economy, which amounts to $10.8bn, in contrast to the 30 percent value added by the Australian industry growth. In sum, the increase in the sector’s total wages from 2007 to 2012 is 64%.
There are 204,000 jobs in the private education, including private preschool, primary and secondary schools. In contrast to the 30% value added to the economy by the Australian industry growth, private education added 42% to the economy which amounts to $13.3bn. The average wage is $52, 328 p/a. The increase in sector’s total wages from 2007 to 2012 is 47%.
The indexed job growth for online retail is progressively moving upward. The increase in sector’s total wages from 2007 to 2012 is 99%. The average wage is $24, 080 p/a. In terms of the value added to the economy is remarkably 129% against the 30%value added by the Australian industry growth. Online retail also provided 25,000 jobs.
In the data presented, the annual average wage is included in the calculations. There are a number of factors that should be taken into consideration which are mainly part-time and casual work.