Home' Employment Forecast : MyCareer Employment Forecast April 2011 Contents Total Jobs
Although the Construction and Property Sector has experienced a slowdown since the GFC, it is now returning to employment
growth. Jobs grew by 3.0% in the year to February 2011, due largely to the value of engineering work reaching a record high
in 2010. Jobs are growing in building construction (+1.0%), heavy and civil engineering construction (2.2%), and construction
services (5.4%). In an encouraging sign, jobs in the land development and site preparation sub-sector are also growing (+3.4%).
Job vacancies in Construction and Property remain strong, despite a softening in the value of building approvals – although,
the value of approvals is still higher than it was just prior to the GFC. This is because other construction work associated with
mining, roads and other infrastructure remains strong. Business confdence in this sector has improved considerably since the
GFC, although it has softened a little recently with the increases in interest rates.
At the state level, Victorian jobs are growing particularly strongly, with growth at more than 10%. In NSW, jobs are showing a
slight drop, at -1.3%, but this is an improvement on 2010 when jobs were falling at a rate of 2.2%. In Queensland, jobs are falling
- albeit just - refecting the weaker economic environment of that state. SA has been a strong performer with jobs well up and
thanks to the return to growth in the Mining Sector, jobs in WA are also increasing.
Even though the value of building approvals has softened due to higher interest rates, this will be offset by increased
construction activity in the non-building infrastructure areas. Areas such as mine development, the building of ports, the
construction of roads and other projects are expected to grow, boosted by the recovery efforts in Queensland following the
natural disasters that struck that state. In addition, the attitude of the major banks to commercial property has stabilised and
they are starting to look at expanding lending in that sector again. Overall, the jobs outlook is solid but not spectacular, with jobs
growing on an annual basis of 2.4% by November 2011.
MyCareer Employment Forecast
Construction and Property
This sector is forecast to continue to grow – modestly
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