Australian Manufacturing is Disappearing

A few interesting details on the stats for the Australian manufacturing industry.

Since 1990, manufacturing's share of Victorian gross state product has fallen from 16 per cent to 10 per cent and that decline is increasing. According to a paper sponsored by Visy, that will mean the loss of some 587,000 jobs in the next decade, 27 per cent of state household income and 24 per cent of state income.

Nationwide, manufacturing's share of income has declined from 15 to 8 per cent over the same period.

The practical effects are someting along the lines of

Infrastructure needs, and just what needs to be done to support the mining sector, will be part of the study, which will look at how tertiary education can be directed more at mining service sectors. In short, more IT and engineers and fewer lawyers.

Source:

http://www.theaustralian.com.au/business/opinion/national-broadband-network-is-an-industry-game-changer/story-e6frg9if-1226077373546