One side of the two speed economy is in Overdrive…

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Posted By: garyc Posted In: News Date Posted: May 16th, 2012 Comments: 0
money

The latest jobs report for the first quarter of 2012 is in from MyCareer.

If there was any uncertainty over what is meant by Australia having a two-speed economy, the data tells us that the mining sector is actually in overdrive, while the remainder of the economy is parked in the emergency lane.
Consider that 61% of all the full time jobs generated in Australia in the last 12 months were in the mining sector. Providing that statement to be true is the fact that both the Retail and Tourism and Hospitality sectors shed jobs and are therefore in negative territory.

Here are a few winners and losers from the last quarter:

Winners

Mining             ↑5.1%

Media & Marketing     ↑ 1.8%

HR & Recruitment      ↑ 4.3%

Health & Community Services ↑ 0.7%

Education          ↑0.5%

Government          ↑1.2%

Financial Services      ↑0.8%

Property & Business Services ↑0.6%

Losers

Construction & Property ↓0.1%

Transport & Storage ↓2.0%

Manufacturing     ↓0.6%

Tourism & Hospitality ↓1.9%

Retail             ↓0.7%                

I.T             ↓0.6%        

Engineering          ↓0.5%    


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