Australia: 2017 was a year for job creation – TDS

Analysts at TDS note that in Australia, employment by industry was released (Nov qtr and so full year) and it suggested that 2017 was a year for job creation, concentrated in high-quality full time roles. 

Key Quotes

“Over the year, 100k jobs were added in Construction and Health care, and account for nearly two-thirds of the new jobs in 2017.  Home-building and government infrastructure cycles are the catalysts for construction becoming the other noticeable job creators. Public infrastructure spending is likely to see construction employment growth well into 2018 as well.”

“In the wake of the US corporate tax cut, many business people are demanding that Australia follows suit.  However, rather than viewing business tax cuts as growth friendly, they tend to be framed as “tax cuts for the rich”.  Only a small business tax cut was legislated earlier this year.”