June 23, 2017
The report, Manufacturing: A Moment of Opportunity, identifies several indicators which suggest that the economic opportunities for domestic manufacturing have improved significantly. Prepared by the Centre for Future Work, part of the Australia Institute thinktank, it outlines the industry’s dogged resilience in difficult times, its importance to the Australian economy, and its more hopeful future prospects. “Australia’s manufacturing industry faces some daunting domestic and global challenges. But it’s not just surviving, it’s finding a way to grow, adding 40,000 new jobs last year,” said Dr Jim Stanford, Director of the Centre for Future Work. “That ranks manufacturing as the second biggest source of new jobs in Australia last year.Additionally, manufacturing re-invests 5% of its value added in R&D, the highest of any industry, making it an engine room for innovation in the economy.” The report was launched on 21 June to coincide with the National Manufacturing Summit, held by the two organisations at Parliament House in Canberra. The event featured presentations from a wide range of experts from industry, university, trade unions and…