Where will our children's jobs come from? It's something to ponder after the implosion of one of the manufacturing sector's linchpins. The first, broad answer is the retreats of Ford, Holden and Toyota don't mean that Australia cannot create enough jobs.
There were just over 9 million people employed in Australia in November 2000. Employment in the manufacturing sector fell by 140,000 or 13 per cent between then and November last year, but total employment rose by 29 per cent or 2.62 million, to more than 11.6 million.
New South Wales lost 52,900 jobs or 18.5 per cent of its manufacturing workforce over the 13-year period. Victoria was hit even harder. It shed 95,100 jobs, more than 29 per cent of its manufacturing workforce. NSW nevertheless created 276,100 jobs overall, boosting its employment base by 12.2 per cent. Victoria did even better, boosting total job numbers by 336,600, or 20.3 per cent.
They did it even though they were not sitting on mineral riches that underpinned a 196,500, 252 per cent rise in job numbers to 274,500 in the mining sector between 2000 and 2013 - and while their jobs growth slowed to a crawl between 2010 and 2013, the way they did it gives the next clue about where our kids will be working: it is the service sector that will be the growth engine. It's still a complicated picture. Smaller job markets are, for example, more vulnerable to shocks such as a large company's collapse. Recent developments also make some sectors that have been growing...