By Angela Dorizas
New research has identified 20 regions across Australia that emerged from the economic downturn with at least five per cent increase in employment.
Bankwest research showed that east metropolitan Perth and lower-northern Sydney have experienced the strongest employment growth since the global financial crisis began in November 2007.
Bankwest retail chief executive officer, Ian Corfield, said the report provided an indicator that the “tide might be starting to turn”.
“It’s encouraging that nearly one-third of Australia’s regions, including parts of most capital cities on both the East and West coast, have come through the global downturn unscathed in terms of job losses,” he said.
“Our report shows that employment in the inner suburbs has held up, highlighting that Australia’s labour market has performed better than expected during the global financial crisis.”
The report also identified the worst performers in employment growth, with the biggest falls occurring in north, west and central Western Australia, the Goulburn Ovens Murray region in Victoria, West Moreton in Queensland and Gosford-Wyong in NSW.
A breakdown of employment growth by industry found six industries that have recorded at least five per cent growth over the past eighteen months – utilities, public administration, transport, healthcare, wholesale trade and mining.
Corfield said it was “no surprise” that government related employment had been “cushioned in the downturn”, with healthcare and public administration performing well.
Twenty best performing regions for employment growth since November 2007:
- East metropolitan Perth – 13 per cent
- Lower-northern Sydney – 13 per cent
- South-eastern New South Wales – 11 per cent
- Lower-western Western Australia – 10 per cent
- Ipswich City, Queensland – 10 per cent
- Northern and north-west Queensland – 10 per cent
- Inner Melbourne – 10 per cent
- Inner Sydney – 9 per cent
- South and east Brisbane – 9 per cent
- Darling Downs and south-west Queensland – 8per cent
- Eastern suburbs, Sydney – 7 per cent
- Central-western Sydney – 6 per cent
- Illawarra, New South Wales – 6 per cent
- South-eastern Melbourne – 6 per cent
- Wide Bay-Burnett, Queensland – 6 per cent
- Northern Tasmania – 5 per cent
- Western Adelaide – 5 per cent
- Southern Melbourne – 5 per cent
- St George and Sutherland, Sydney – 5 per cent
- Barwon-Western District, Victoria – 5 per cent
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