National economic indicators series

National Economic Indicators Series
Data notes

Gross Regional Product

For the local area this information is synthesized by National Economics using a range of data sources (including ABS labour force survey, tax office and Centrelink datasets) to produce an estimate of the Gross Regional Product of the local economy. GRP is the equivalent of GDP at the local level for a Local Government Area or region, and the calculation method simulates that used for the nation, but is influenced by local characteristics such as types of employment and worker productivity. For more information see National Institute of Economic and Industry Research (NIEIR)

To enable direct comparison between areas of varying size (eg. local, state, national), each year of data is divided by the base reference year and multiplied by 100 so that all areas are compared on the same scale. The actual size of the economy, and growth is shown in the box at the left. All data are expressed in constant dollar terms for the reference year (shown on the chart).

Changes to historical data

This dataset is underpinned by the NIEIR-ID economic model which is updated each financial year. In the 2016-17 update you can expect to see differences in some of the numbers to previous updates.

Local jobs

Employment data presented here are estimates based on NIEIR modelling from a number of sources. They are NOT Census figures which typically undercount employment by approximately 20%. The NIEIR estimates should be a more accurate and up-to-date estimate of employment in an LGA than Census figures, because they adjust for:

  • Persons who reported no fixed place of work, and;
  • Persons who failed to report a place of work with codeable address.

Estimates of employment by industry from ATO income tax returns are used by postcode of residence and are converted to LGA of residence. Tax data is used because it is more timely and accurate than Census income data.

The Census undercount listed above is identified and allocated to workplace locations in accordance with the distribution for similar industry types of residents of the LGA who nominated a workplace. The results are then adjusted on a quarterly basis by employment results in the ABS Labour Force Survey. Estimates are also checked against commercial and industrial floorspace completion rates by location and industry in intercensal years.

Please note that these modelled estimates are subject to change. Estimates are reviewed when more recent and robust data becomes available, particularly when new National or State Accounts data are released by the ABS, or new tax office income data are released. Most recent financial year estimates are based on a combination of factors including Centrelink and Labour Force Survey data, which is replaced by ATO income data when it becomes available. As a result of this, revisions to the most recent 6 quarters (18 months) of data should be anticipated by users, which could change the statistical outcomes.

Worker productivity

Worker productivity is calculated by dividing the industry value added by the average (mean) number of persons employed over the four quarters of the financial year. Regional differences in the worker productivity are inherent in the model, which is based on income tax return information from the ATO, relativities between industries calculated from Census data, and labour force survey information updated annually.

High worker productivity figures mean that fewer workers in that industry may produce a greater output. Mining and financial services industries tend to have high worker productivity figures. Please note that worker productivity figures will be generated if you have at least one worker in that industry in your area. Some areas may have very low numbers of workers in particular sectors, and therefore have highly variable worker productivity in those sectors. While the figures can give a guide as to which sectors could add the most value to the economy if grown, care should be taken in interpreting the figures for industries with very low current numbers of workers.

Please note that these modelled estimates are subject to change. Estimates are reviewed when more recent and robust data becomes available, particularly when new National or State Accounts data are released by the ABS, or new tax office income data are released. Most recent financial year estimates are based on a combination of factors including Centrelink and Labour Force Survey data, which is replaced by ATO income data when it becomes available. As a result of this, revisions to the model for all years may be expected, and large revisions for the last two financial years are possible, when the new data are released each November, for the previous financial year. These revisions could change the statistical outcomes, so please treat the most recent years’ data with caution.

Changes to historical data

This dataset is underpinned by the NIEIR-ID economic model which is updated each financial year. In the 2016-17 update you can expect to see differences in some of the numbers to previous updates.

Unemployment rate

Please note that the local unemployment data are sourced from Small Area Labour Markets, a quarterly publication by the Department of Employment and Workplace Relations. State and National figures are sourced from the ABS Labour Force Survey (Catalogue number 6202.0). The Department of Employement data uses the labour force survey as a base, and models it to local level using Centrelink data. Local unemployment is updated quarterly in this collection, and while state and national figures are available monthly, these are also updated on the site quarterly to match the time period of the local numbers.

All labour force data are subject to sampling error, as they are derived from a sample survey of approximately 29,000 dwellings nationwide.

All labour force data relate to the civilian population aged 15 years and over.

The definition of unemployment used is the standard ABS and international definition - Unemployed persons are defined as all persons aged 15 years and over who were not employed during the reference week, and either had actively looked for full-time or part-time work at any time in the four weeks up to the end of the reference week and were available for work in the reference week, or were waiting to start a new job within four weeks from the end of the reference week and could have started in the reference week if the job had been available then.

Employed persons are those aged 15 years or over who, during the survey reference week, worked for one hour or more for pay, profit or payment in kind in a job or business, or on a farm; or worked for one hour or more without pay in a family business or on a farm; or who had a job but were not at work for a number of specified reasons; or were employers or self-employed persons who had a job, business or farm, but were not at work.

Number of businesses

The ABS Business Register is extracted from the Australian Business Register maintained by the ATO. It is a count of businesses with an Australian Business Number (ABN) on the Australian Business Register (i.e. actively trading).

The ABS Business Register does not include:

  • entities without an ABN - mainly individuals whose business activities fall under the threshold for GST compliance and whose taxation obligations can be satisfied under the Personal Income Tax System
  • ABNs without a GST role – mainly businesses with turnover <$50,000pa, not-for-profit institutions with turnover of <$100,000 or entities whose activities do not involve trading in goods or services (eg investment vehicles)
  • Businesses that have ceased trading - no longer actively remitting GST obligations
  • Establishment of new locations associated with an existing business
  • Entities not considered to be actively trading in the market sector, including:
    • Central Bank
    • General Government – this particularly affects data for Education and Health and Community Services and means that institutions such as public universities, public schools, public hospitals and other public education and health organisations are not included in this data.
  • Non-Profit Institutions Serving Households
  • Charitable Institution
  • Social and Sporting Clubs
  • Trade Unions and Other Associations
  • Other Unincorporated Entity
  • Diplomatic or Trade Missions, Other Foreign Government
  • Private Households Employing Staff

The ABS Business Register does include:

  • employing and non-employing businesses
  • Single location and multiple location businesses
  • Entities with complex business structure - the business is assessed and broken up into Type of Activity Units (TAUs). The statistical unit referred to as a "business" thus consists of ABNs and TAUs

Detailed information about this data set, including summary findings from the national dataset by industry sector, can be found in Counts of Australian Businesses, including Entries and Exits.

The ABS Business Register dataset is published annually and incorporates the latest release of this data which is a snapshot as at June 2017, with a time series comparison to June 2015 numbers.

Data source: Australian Bureau of Statistics, Counts of Australian Businesses, including Entries and Exits, 2015 to 2017 Cat. No. 8165.0

IMPORTANT NOTE ABOUT GEOGRAPHIC AREAS:
Business Register counts are published by the ABS on SA2 (Statistical Area level 2) boundaries, not Local Government Area boundaries. The data presented in economy.id aggregates SA2 level data to Local Government Areas. However, in some cases, SA2s do not align to LGA boundaries. Where an SA2 crosses an LGA boundary, an estimate has been made to apportion the businesses in an SA2 across two or more LGAs. The estimate is done on the basis of the proportion of commercial, industrial and agricultural land use falling on either side of a boundary but please be aware that this is an approximation only, and doesn’t take account of the differing distributions of different industry sectors, nor is it an accurate count of individual businesses on either side of a boundary. For this reason, the business counts used in economy.id may not be an exact match to counts sourced directly from the Australian Taxation Office. Some areas are more affected by this issue than others.

Estimated Resident Population

Populations are counted and estimated in various ways. The most comprehensive population count available in Australia is derived from the Population and Household Census conducted by the Australian Bureau of Statistics every 5 years.

However the Census count is not the official population of an area. To provide a more accurate population figure which is updated more frequently than every 5 years, the Australian Bureau of Statistics also produces "Estimated Resident Population" (ERP) numbers. Based on population estimates as at 30 June, ERPs take into account people who missed the count on Census night, including people who were temporarily overseas, plus an undercount adjustment for those who did not complete a Census form, and an overcount adjustment for anyone who was double counted.

Estimated Resident Population figures are updated annually taking into account births, deaths, internal and overseas migration. In addition, after every Census, ERP figures for the five previous years are "backcast", using information from the current Census, to ensure the most accurate figures are available.

Value of Building Approvals

Value of building approval data are sourced from the Australian Bureau of Statistics, Catalogue number 8731.0 – Building Approvals, Australia. This is a monthly publication, with the data here presented quarterly. Data may be revised up to a year after publication.

The value of approval data includes all approved residential building valued at $10,000 or more and all approved non-residential building valued at $50,000 or more. Value of building work excludes the value of land, and also excludes landscaping, but includes site preparation costs. Both new dwellings and alterations and additions to existing dwellings are included in the residential approvals.

Data presented here are the "Original" series, which has not been seasonally adjusted or smoothed to remove anomalies. Seasonal adjustment is not available at a local level, so for comparison purposes the state and national figures shown here are also "Original". Seasonally adjusted and trend figures are more often reported on a national basis by the ABS and the media, so for this reason, the figures shown here may not match those often reported.