Industry overview

In 2023-24, 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 Arts and recreation services.
• The largest rise in KLEMS MFP was in Administrative and support services.

• Total selected industries operating profit before tax (OPBT) declined $60.0b (-8.6%).
• The Mining industry had the largest fall in OPBT of $66.7b (-27.4%), while the Transport, postal and warehousing industry had the largest increase of $19.4b (103.3%).
• Total selected industries Earnings before interest, tax, depreciation and amortisation (EBITDA) decreased $31.1b (-3.8%).
• Mining earnings declined $42.4b (-15.4%).
• Agriculture, forestry and fishing earnings declined $9.6b (-35.4%).
• Rental, hiring and real estate services earnings grew $6.5b (9.4%).

In 2023-24, on an hour worked basis:

• The market sector MFP rose 0.1%
• Market sector labour productivity increased 1.1%, following a record fall of 3.5% in 2022-23
• MFP in ten of sixteen market sector industries rose
• Largest MFP rise was in Agriculture, forestry and fishing, largest fall was in Arts and recreation services