The structure of the Australian economy is constantly evolving in response to domestic and international forces which themselves are continually changing. Over the last five years the service sector has continued its inexorable increase while at the same time the mining sector has staged a rebound in response to increasing world demand for commodities. Manufacturing production has switched to more ‘knowledge intensive’ goods that emphasise design and other value-added components. Firms have grown bigger and computerisation and information technology has replaced thousands of clerical workers who have found jobs in other service industries.
Posted in Asia Pacific, Economy, Federal, Governance, Innovation, Local Industry, Primary Industry, Productivity and tagged Australian Economy, CIE, computerisation, DITR, domestic forces, Information Technology, international forces, knowledge intensive, Manufacturing, mining sector, service sector, structural change, value-added component, world demand.