The ABS will be closed from 12.00pm, 24 December 2024 and will reopen at 9.00am, 2 January 2025. During this time there will be no statistical releases and our support functions will be unavailable. The ABS wishes you a safe and happy Christmas.

Industry overview

Estimates of Industry Level KLEMS Multifactor Productivity

In 2022-23, on a quality adjusted hours worked basis:

  • Nine of the sixteen market sector industries recorded a decline in KLEMS MFP.
  • The largest fall in KLEMS MFP was in Accommodation and food services, while the largest KLEMS MFP rise was in Information, media and telecommunications. 
Reference period
2022-23 financial year

Australian Industry

  • Total selected industries earnings grew $93.4b (12.9%).
  • The Mining industry had the largest growth in earnings of $52.0b (23.4%).
  • Wholesale trade earnings grew $7.9b (21.9%).
  • Retail trade earnings grew $6.8b (16.2%).
  • Construction earnings grew $6.1b (11.6%).
  • Total selected industries operating profit before tax (OPBT) was steady, declining $2.1b (0.3%) in 2022-23.
  • The Mining industry had the largest increase in OPBT of $57.2b (31.0%), while the Rental, hiring and real estate services industry had the largest decrease of $45.5b (-44.8%).
Reference period
2022-23 financial year

Estimates of Industry Multifactor Productivity

In 2022-23, on an hour worked basis:

  • The market sector MFP fell 0.5%
  • Market sector labour productivity fell 2.9%, which was the largest decline in the time series
  • Eight of sixteen market sector industries experienced a fall in MFP
  • Largest MFP fall was in Wholesale trade, largest rise was in Information, media and telecommunications
Reference period
2022-23 financial year

Articles