Australia’s jobs data has been the topic of discussion recently with the Australian Bureau of Statistics releasing two surprise numbers in as many months.
In July the ABS shocked markets with a surprise surge in Australia’s unemployment rate to a decade high of 6.4%.
In August the bureau’s stats showed a surprise fall 6.1%, with an almost unbelievable 121,000 jobs added against market expectations of 15,000 jobs.
The release had economists questioning the validity of the results and there were some cracking reactions. More on that here.
CommSec chief economist Craig James has run the numbers to figure out where all the jobs have gone. The table below shows which employment areas have grown the most in the year to August 2014.
He found social assistance services and agriculture posted the biggest annual gains, with teaching coming in a close third. Most sectors recorded some level of job growth over the past 12 months which shows jobs shed from the mining and manufacturing sectors are being absorbed by other parts of the economy as it starts to transition.
Here are the results.