High Inflation Caused 12,000 Job Losses in Australian Manufacturing: Industry Group

‘There’s a pressing need to address the supply constraints across our economy that are at the root of our inflationary troubles,’ said Ai Group director.

A worker is seen on the production floor at the Civmec Construction and Engineering facility in Perth, Australia, March 10, 2017. AAP Image/Dan Peled

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.