Australian manufacturing jobs were down 6.7 per cent over the last five years, and the sector only contributes 5.6 per cent to GDP despite some $4.6 billion of investment, according to new research by professional services firm EY.
Key points:
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Even before COVID-19 exposed weaknesses in globalised supply chains, Australian manufacturing was failing to keep pace with countries like Israel, Singapore and South Korea, EY's chief economist Jo Masters said.
"It's a sector that has become a smaller employer, a smaller part of our economy over the last few years," Ms Masters told 7.30 as part of a new series on the education and jobs of Australia in 2025.