The Australian manufacturing sector is experiencing new jobs growth according to The Australian Manufacturing Growth Centre (AMGC).
Manufacturing is also now growing. It employs 902,000 people, up from 859,500 in February 2016. Manufacturing now represents 7.6 per cent of the Australian workforce.
The recovery in the employment numbers shows a strong sentiment to Australian manufacturing. This is also evidenced by the increase in the Performance of Manufacturing Index by 1.2 points to 55.4 from November 2016 to December 2016. The Index is an Ai Group seasonally adjusted national composite index based on the diffusion indices for production, new orders, deliveries, inventories and employment with varying weights.
Advanced Manufacturing Growth Centre managing director Dr Jens Goennemann said that there are a lot of reasons to be positive about Australian manufacturing.
“There’s a lot to cheer about as we head into Australia Day celebrations, and our manufacturing strength should be one of those Aussie successes we raise a glass to and toast,” Goennemann said.
The AMGC has released its Growth Competitiveness Plan, which shows that manufacturing has the potential to add $36 billion to the economy over the next ten years.