Full-time equivalent (FTE) employment is modelled by NIEIR and takes into account differences in hours worked between industry sectors. It is a measure that allows direct comparison of employment between industries in the Inner West Council area.
Typically, industries such as Retail Trade and Accommodation and Food Services, which employ many part-time workers, have lower FTE employment than total employment.
FTE employment is calculated directly by dividing the total hours worked in each industry by 38. By comparing the number of full-time equivalent jobs in each industry sector to a regional benchmark, you can clearly see the structure of the Inner West Council area's economy. This can be done by directly comparing the area to its benchmark, or by using a location quotient to look at the relative size of industries.
FTE employment should be viewed in conjunction with Employment by industry (Total) and Employment by industry (Census), for a full understanding of the industry breakdown in the area. Worker productivity data shows the value of a worker in each industry to the local economy. Employment locations shows where employment is taking place in each industry sector.
National Economics (NIEIR) - Modelled series
|Full-time equivalent employment by industry sector|
|Inner West Council area||2020/21||2015/16||Change|
|Industry||Number||%||New South Wales||Number||%||New South Wales||2015/16 - 2020/21|
|Agriculture, Forestry and Fishing||424||0.7||2.6||125||0.2||2.8||+299|
|Electricity, Gas, Water and Waste Services||323||0.5||1.2||101||0.2||1.2||+223|
|Accommodation and Food Services||4,015||6.4||4.9||4,418||7.1||5.7||-402|
|Transport, Postal and Warehousing||3,184||5.1||5.4||2,991||4.8||5.8||+193|
|Information Media and Telecommunications||1,004||1.6||2.2||1,337||2.1||2.5||-333|
|Financial and Insurance Services||1,225||2.0||5.6||1,185||1.9||5.3||+40|
|Rental, Hiring and Real Estate Services||1,109||1.8||1.8||1,439||2.3||2.0||-330|
|Professional, Scientific and Technical Services||5,714||9.1||11.4||6,021||9.6||10.2||-307|
|Administrative and Support Services||1,560||2.5||3.0||1,945||3.1||3.3||-386|
|Public Administration and Safety||4,195||6.7||6.3||4,043||6.5||5.6||+151|
|Education and Training||5,511||8.8||8.3||4,882||7.8||7.7||+629|
|Health Care and Social Assistance||7,424||11.9||12.3||8,327||13.3||11.5||-902|
|Arts and Recreation Services||1,190||1.9||1.5||1,291||2.1||1.6||-101|
Source: National Institute of Economic and Industry Research (NIEIR) ©2021. Compiled and presented in economy.id by .id (informed decisions). NIEIR-ID data are adjusted each year, using updated employment estimates. Each release may change previous years’ figures. Learn morePlease refer to specific data notes for more information
An analysis of the jobs held by the full-time equivalent local workers in the Inner West Council area in 2020/21 shows the three largest industries were:
- Retail Trade (8,548 people or 13.7%)
- Health Care and Social Assistance (7,424 people or 11.9%)
- Construction (7,170 people or 11.5%)
In combination these three fields accounted for 23,143 people in total or 37.0% of the local workers.
In comparison, New South Wales employed 8.5% in Retail Trade; 12.3% in Health Care and Social Assistance and 9.8% in Construction.
The major differences between the jobs held by the full-time equivalent local workers of the Inner West Council area and New South Wales were:
- A larger percentage of full-time equivalent local workers employed in Retail Trade (13.7% compared to 8.5%)
- A smaller percentage of full-time equivalent local workers employed in Financial and Insurance Services (2.0% compared to 5.6%)
- A smaller percentage of full-time equivalent local workers employed in Professional, Scientific and Technical Services (9.1% compared to 11.4%)
- A smaller percentage of full-time equivalent local workers employed in Agriculture, Forestry and Fishing (0.7% compared to 2.6%)
The number of full-time equivalent local workers in the Inner West Council area increased by decreased by -53 between 2015/16 and 2020/21.
The largest changes in the jobs held by the full-time equivalent local workers between 2015/16 and 2020/21 in the Inner West Council area were for those employed in:
- Retail Trade (+2,030 full-time equivalent local workers)
- Education and Training (+629 full-time equivalent local workers)
- Construction (+408 full-time equivalent local workers)
- Agriculture, Forestry and Fishing (+299 full-time equivalent local workers)