The energy industry recorded an increase of 8.5% in the number working days within the Working Day Industrial Turnover, higher than any other sector.
This increase forms part of the National Statistics Office’ latest Short Term: Industrial Indicators Report comparing the second quarters of 2018 and 2019.
While Energy recorded the highest year to year increase when taken by Q2, Intermediate Goods (2.6%) and Durable Consumer Goods (2.5%) recorded smaller but equitable increases in their Working Day Industrial Turnover.
Consumer goods recorded a 1.0% drop in turnover between Q2 of 2018 and 2019.
Likewise, Energy is also favourable when it comes to Seasonally Adjusted turnover. The sector records a 4.7% increase in the comparative period, while Capital goods sits at 3.7%.
Energy employment down
While the Energy sector sees positive increases in Q2 of 2018/2019, NSO reports a drop in employment in the sector. This is reported to be down by -0.8% in Q2 2019 on the same period in 2018. Capital goods on the other hand, records a slightly higher decrease of -0.9%. Consumer goods report a decrease of -0.5%.
When looked at through the Unadjusted lens, Energy reports a -3.4% decrease. Durable Consumer Goods is more than double this at a -7.3% decrease.
Concurrent with decrease in employment, Energy also records the largest ‘Working Day Adjusted’ fall in Industrial hours. The report shows that between Q2 2018 and 2019, this is recorded as -8.9%. Durable Consumer Goods records the second highest decrease at -4.7%.
Energy wages up
While the number of hours and the level of employment in the Energy Industry had fallen, wages had increased in Q2 2019.
The figures show that the sector’s wages had increased by 10.8% in Q2 2019 from 2018.
This was 5 times higher than the second recorded increase being Intermediate Goods (2.6%) and Capital Goods (2.2%). Large decreases were recorded in Consumer Goods (2.9%) and Non-Durable Consumer Goods (2.9%).