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    Australia faced both opportunities and challenges in 2011. While the economy was growing and unemployment was low, there were concerns about rising costs, global economic uncertainty, and maintaining competitiveness. The document discusses Australia's transition from a manufacturing to service-based economy over the 20th century and increasing levels of education. It provides charts showing historical shifts in industry GDP shares, employment shares by industry, and the composition of goods exports. Overall policies aim to support growth while ensuring affordability and competitiveness in the face of global changes.

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    Australia faced both opportunities and challenges in 2011. While the economy was growing and unemployment was low, there were concerns about rising costs, global economic uncertainty, and maintaining competitiveness. The document discusses Australia's transition from a manufacturing to service-based economy over the 20th century and increasing levels of education. It provides charts showing historical shifts in industry GDP shares, employment shares by industry, and the composition of goods exports. Overall policies aim to support growth while ensuring affordability and competitiveness in the face of global changes.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd
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    Download as ppt, pdf, or txt
    135 views5 pages

    Ken Henry Giblin Lecture Slides

    Uploaded by

    peter_martin9335
    Australia faced both opportunities and challenges in 2011. While the economy was growing and unemployment was low, there were concerns about rising costs, global economic uncertainty, and maintaining competitiveness. The document discusses Australia's transition from a manufacturing to service-based economy over the 20th century and increasing levels of education. It provides charts showing historical shifts in industry GDP shares, employment shares by industry, and the composition of goods exports. Overall policies aim to support growth while ensuring affordability and competitiveness in the face of global changes.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as ppt, pdf, or txt
    of 5

    Australia 2011: Opportunities,

    challenges and policy responses

    2011 Giblin Lecture

    4 March 2011
    Dr Ken Henry AC
    Secretary to the Treasury
    Chart 1: Share of manufacturing
    employment, 1908-1929

    Source: Official Yearbook (various years), Commonwealth Bureau of Census and Statistics.
    Chart 2: Industry GDP share, 1901-2000

    Source: Economic Roundup Centenary Edition, 2001.


    Chart 3: Employment share by industry
    and overall education levels
    Per cent Years
    80 20

    70

    60 15
    Education per
    person
    50 Services (LHS) employed
    (RHS)
    40 10
    Manufacturing,
    industry (LHS)
    30

    20 5

    Agr, forestry,
    10
    fishery (LHS)

    0 0
    1913 1929 1938 1950 1973 1990 2003

    Source: Maddison A, Contours of the World Economy, I-2030AD, Oxford University Press, 2007.
    Chart 4: Share of goods exports
    Per cent Per cent
    100 100

    Other

    80 80

    60 Metals and ores 60

    40 Coal 40
    Other rural

    Cereals
    20 20
    Meat
    Textile fibres

    0 0
    1950-51 1955-56 1960-61 1965-66 1970-71 1975-76 1980-81 1985-86 1990-91 1995-96

    Source: Australian Economic Statistics, RBA.

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