More people were employed in Australia’s construction sector in February according to the Australian Bureau of Statistics (ABS).
This news was welcomed by Master Builders of Australia who speculated that this was caused by the recent mining investment boom.
However they were unsure how the job market in this sector would perform over the next year as the boom dies down and economists look to the property market to make up revenue in its place.
Statistics from ABS have shown that amount of new buildings being approved has been in declined over recent months.
However, increased performance from the property market could help to encourage more building approvals.
Recently, house prices across Australia have been rising and consumer confidence in this sector has risen as people have been more keen to buy.
The rise in employment within construction shows strength within Australia’s jobs market.
Only 5.4 per cent of people in Australia are classed as unemployed.
Posted by Ravin Chatlani