Home' Employment Forecast : April 2010 Contents 17
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This sector is very responsive to the state of the economy, with jobs growth really starting to stall with the onset of the GFC.
Jobs in the road freight sector have slowed (-4.3%). Reflecting the softer market, companies such as Toll Holdings have
announced lower than expected profits (15% below analysts' predictions). Reflecting changes to lower cost modes of transport,
road passenger transport jobs are growing (+3.9%) as people use more coach travel compared with flying. The airlines,
however, after shedding jobs in 2009, are now starting to show jobs gains (+2.6%). This should get a boost with Virgin Blue
announcing its plans to buy 50 new Boeing planes to bolster its domestic market share. In addition, business class travel is
showing signs of recovery.
This industry has also been going through a cost adjustment process with part time jobs growing very strongly in this sector
(+6.9%). On the other hand, full time jobs have been declining 3.1%.
Reflecting the regearing up of the Mining Sector in WA, this sector is posting strong jobs growth. In fact, this sector hardly
missed a beat in WA, even during the GFC. Transport and storage jobs are still falling in NSW and Queensland. Once again,
reflecting the better economic conditions in Victoria, jobs are just about steady. SA is also steady in this industry.
Like other sectors of the economy, business confidence in this sector has really picked up, with the Business Confidence Index
(NAB) up to +22.9, well up from the trough of -24 in the December 08 quarter. With better confidence, a growing economy, air
passenger numbers growing again and the Mining Sector expanding once more, jobs are expected to grow by the middle of the
year, rising by 0.3% by November 10.
After a difficult 2009, this sector is going into 2nd gear
Transport and Storage
Business Cap Ex
T & S Confidence
Source: ABS/EMDA Model 2010
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