High Inflation Contributes to 12,000 Job Losses in Australia’s Manufacturing Industry: Ai Group 

A major peak industry body has revealed that Australia’s manufacturing sector slashed around 12,000 jobs, or 1.3 percent of the total workforce, in the 12 months leading to June 2024. At a recent parliamentary inquiry on the cost of living, Jeffrey Wilson, a research director at the Australian Industry Group (Ai Group), discussed the challenges facing Australian businesses due to inflation. Wilson noted that while there has been a significant drop in employment, the growth in the manufacturing sector was negligible. “Output manufacturing grew by an anemic 0.2 percent in real terms last financial year, with food the only major branch to show any meaningful growth,” he said....