Full-time equivalent (FTE) employment is modelled by NIEIR and takes into account differences in hours worked between industry sectors. It is a measure that allows direct comparison of employment between industries in the City of Monash.
Typically, industries such as Retail Trade and Accommodation and Food Services, which employ many part-time workers, have lower FTE employment than total employment.
FTE employment is calculated directly by dividing the total hours worked in each industry by 38. By comparing the number of full-time equivalent jobs in each industry sector to a regional benchmark, you can clearly see the structure of the City of Monash's economy. This can be done by directly comparing the area to its benchmark, or by using a location quotient to look at the relative size of industries.
FTE employment should be viewed in conjunction with Employment by industry (Total) and Employment by industry (Census), for a full understanding of the industry breakdown in the area. Worker productivity data shows the value of a worker in each industry to the local economy. Employment locations shows where employment is taking place in each industry sector.
Data source
National Economics (NIEIR) - Modelled series
Current benchmark:
Comparison year:
| Full-time equivalent employment by industry sector | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| City of Monash | 2023/24 | 2018/19 | Change | ||||||
| Industry | Number | % | Victoria | Number | % | Victoria | 2018/19 - 2023/24 | ||
| Agriculture, Forestry and Fishing | 119 | 0.1 | 2.6 | 223 | 0.2 | 3.3 | -104 | ||
| Mining | 65 | 0.1 | 0.4 | 83 | 0.1 | 0.5 | -17 | ||
| Manufacturing | 12,677 | 11.5 | 8.1 | 13,657 | 11.9 | 9.3 | -979 | ||
| Electricity, Gas, Water and Waste Services | 1,221 | 1.1 | 1.5 | 1,000 | 0.9 | 1.4 | +220 | ||
| Construction | 11,986 | 10.8 | 10.9 | 15,424 | 13.5 | 10.5 | -3,438 | ||
| Wholesale Trade | 6,276 | 5.7 | 3.3 | 8,084 | 7.1 | 3.7 | -1,808 | ||
| Retail Trade | 8,274 | 7.5 | 8.1 | 9,954 | 8.7 | 8.8 | -1,679 | ||
| Accommodation and Food Services | 3,704 | 3.4 | 4.7 | 3,818 | 3.3 | 5.1 | -114 | ||
| Transport, Postal and Warehousing | 4,842 | 4.4 | 5.5 | 4,956 | 4.3 | 5.7 | -114 | ||
| Information Media and Telecommunications | 1,709 | 1.5 | 1.8 | 2,122 | 1.9 | 2.2 | -412 | ||
| Financial and Insurance Services | 2,832 | 2.6 | 4.8 | 2,650 | 2.3 | 4.1 | +182 | ||
| Rental, Hiring and Real Estate Services | 1,626 | 1.5 | 1.6 | 1,865 | 1.6 | 1.7 | -239 | ||
| Professional, Scientific and Technical Services | 10,634 | 9.6 | 10.5 | 10,677 | 9.3 | 9.9 | -43 | ||
| Administrative and Support Services | 3,764 | 3.4 | 2.8 | 4,249 | 3.7 | 3.2 | -485 | ||
| Public Administration and Safety | 3,203 | 2.9 | 5.8 | 3,209 | 2.8 | 5.5 | -7 | ||
| Education and Training | 14,250 | 12.9 | 8.3 | 13,133 | 11.5 | 8.1 | +1,118 | ||
| Health Care and Social Assistance | 18,723 | 16.9 | 14.0 | 14,673 | 12.8 | 11.5 | +4,050 | ||
| Arts and Recreation Services | 1,167 | 1.1 | 1.8 | 1,071 | 0.9 | 1.8 | +96 | ||
| Other Services | 3,408 | 3.1 | 3.4 | 3,785 | 3.3 | 3.8 | -377 | ||
| Total industries | 110,480 | 100.0 | 100.0 | 114,631 | 100.0 | 100.0 | -4,151 | ||
Source: National Institute of Economic and Industry Research (NIEIR) ©2025. Compiled and presented in economy.id by .id (informed decisions). NIEIR-ID data are adjusted each year, using updated employment estimates. Each release may change previous years’ figures. Learn more Please refer to specific data notes for more information | |||||||||
Dominant groups
An analysis of the jobs held by the full-time equivalent local workers in the City of Monash in 2023/24 shows the three largest industries were:
- Health Care and Social Assistance (18,723 people or 16.9%)
- Education and Training (14,250 people or 12.9%)
- Manufacturing (12,677 people or 11.5%)
In combination these three fields accounted for 45,651 people in total or 41.3% of the local workers.
In comparison, Victoria employed 14.0% in Health Care and Social Assistance; 8.3% in Education and Training and 8.1% in Manufacturing.
The major differences between the jobs held by the full-time equivalent local workers of the City of Monash and Victoria were:
- A larger percentage of full-time equivalent local workers employed in Education and Training (12.9% compared to 8.3%)
- A larger percentage of full-time equivalent local workers employed in Manufacturing (11.5% compared to 8.1%)
- A larger percentage of full-time equivalent local workers employed in Health Care and Social Assistance (16.9% compared to 14.0%)
- A smaller percentage of full-time equivalent local workers employed in Public Administration and Safety (2.9% compared to 5.8%)
Emerging groups
The number of full-time equivalent local workers in the City of Monash increased by decreased by -4,151 between 2018/19 and 2023/24.
The largest changes in the jobs held by the full-time equivalent local workers between 2018/19 and 2023/24 in the City of Monash were for those employed in:
- Health Care and Social Assistance (+4,050 full-time equivalent local workers)
- Education and Training (+1,118 full-time equivalent local workers)
- Electricity, Gas, Water and Waste Services (+220 full-time equivalent local workers)
- Financial and Insurance Services (+182 full-time equivalent local workers)