Rise of the bedpan economy

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By Leith van Onselen

The ABS today released its survey of Australian Industry for 2014-15, which revealed that the private Health care and social assistance industry is booming recording strong growth across all key data items (see below table).

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According to the ABS, sales and service income for the private Health care and social assistance industry grew by 13.8% to $84.2 billion and industry value added (IVA) grew by 12.8% to $76.7 billion. Employment for this industry also increased by approximately 51,000 people (5%), with wages and salaries increasing by 10.3% to $46.5 billion.

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.