In 2019/20, the City of Monash contributed 4.3% to Victoria’s employment (total).
The annual industry sector analysis reveals the growth and decline of an industry from 2000/01 to the present.
These charts show the year-on-year change in the different measures of an industry size, based on the 87 industry subsectors and 19 main industry divisions in the ANZSIC classification. An industry may be growing in the local area, but at a rate no different to that of the state or region. For this reason, measures are also included that compare the growth or decline of the industry with the equivalent in the benchmark area, based on a standard index base year of 2000/01. Another chart also looks at the change in an industry as a percentage of the benchmark.
For instance, an industry may double in size from $100m to $200m in total output. But if the state’s output went up by the same amount, the percentage of state would be unchanged. On the other hand, if the state’s output is declining but local output is unchanged, the percentage of state would increase. In this way change over time can be benchmarked.
Different measures may also grow and change in different ways. For instance, during the GFC, some industries retained staff but they worked less hours, resulting in a loss of FTE jobs but no loss of total employment. And an industry may have increasing exports without having an increase in total output.
Industry sector time-series analysis should be viewed in conjunction with Local workers data from the 2011 and 2006 Census to see how the characteristics of the local workers are changing in a growing or declining industry.
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