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Good News For Jobs Growth In 2016!

Good News For Jobs Growth In 2016!

11 Feb 12:00 by

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According to the Australian Industry Group, Manufacturing has strengthened in November. The AIG's Performance of Manufacturing Index shows that Novembers reading jumped 2.3 points to 52.5 making it the 5th consecutive monthin which the PMI has been above 50 points (readings above 50 points indicate net expansion). Surveys indicate that expansion is a result of the competitive level of the Australian dollar supporting exports and local orders; better local confidence; and the continuing demand from residential construction.

November’s improvement saw that the PMI recovered from October's deceleration in growth which was very similar to September. The deceleration in October was possibly due to the additional public holiday for the first time in Victoria this year that disrupted many manufacturers' production, distribution and sales plan nationally.

Overall, the Manufacturing sector is expanding and is in a strong position for jobs growth. Kate Carnell, CEO of the Australian Chamber of Commerce and Industry, stated that "it is great to see that manufacturing businesses are increasing overtime and, for the first time since 2013, boosting staff members". This positive response is centred on new orders, output and overtime which is great for Australian businesses and the Australian public who are seeking employment.