ENG-1997 — Page 94

Chart 10

2500

2000

1500

1000

500

THE ECONOMY

Employment by broad economic sector

Number ('000)

Number ('000)

100

Service sectors as a whole (left scale)

90

80

Building and construction sites

(right scale)

70

Manufacturing sector (left scale)

Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep

1992

1993

1994

1995

1996

1997

The structural shift in employment from manufacturing to services continued in 1997. Employment at construction sites rose sharply, along with hectic building activity at private sector sites.

60

50

40

In the first three quarters of 1997 taken together, earnings in all of the major sectors surveyed showed considerable increases in money terms, and in some sectors, also notably in real terms over a year earlier, reflecting the tighter labour market conditions for most of the year. Wages in most major sectors surveyed also accelerated in growth. However, the increases in earnings and wages could have turned more moderate towards the year's end as the labour market tended to ease.

Chart 11

Per cent

Earnings by broad economic sector (year-on-year growth rate in real terms)

15.0

10.0

5.0

0

-5.0

Service sectors

as a whole

Manufacturing sector

54

-10.0

Mar Jun Sep DecMar Jun Sep DecMar Jun Sep Dec Q1 Q2 Q3 Q4 QI Q2 Q3 Q4 Q1 Q2 Q3

1992

1993

1994 | 1995

1996

1997 Earnings in both the manufacturing and the services sector continued to rise in real terms in 1997.