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Bankruptcy and Debt Collection FY 2014 Statistics by Occupation

Friday, March 13, 2015 - Posted by Philip Harvey

Reviewing the AFSA Bankruptcy statistics for individual bankruptcy occurrences can be an interesting exercise when assessing the risk of any one particular industry that your business might be associated with.

When analysing statistics one must be careful to always keep statistics in context. These statistics were sourced from AFSA.

Our first observation is that Bankruptcy occurs on only 0.17% of the employed workforce across all sectors. The lowest sector is the professional sector with only 0.07% and the highest sector being Machinery Operators and drivers with only 0.24%.

Education Professionals, a subset of the Professional group below, experiences only 0.04%, whilst bankruptcy for road and rail drivers is 0.34% of the employed workforce.

Our take from this is that it is interesting to note from a debt collection perspective, as an overall % the instances of bankruptcy are very low compared to the total workforce. And whilst a road / rail driver is over 8 times more likely to be made bankruptcy than an educational professional, the risk weighting differential is only small. This differential could have a large monetary impact for a large institution (such as a big four bank), but would be a lot less significant for a smaller provider of credit. Though a smaller provider of credit to an industry that has a higher risk

ANZSCO Occupational Group Total
bankrupts
Total debt agreement debtors

Total
personal insolvency agreement debtors

Managers 1,735 966 61
Professionals 1,686 934 51
Technicians and Trades Workers 3,121 1,410 29
Community and Personal Service Workers 1,751 1,329 13
Clerical and Administrative Workers 2,231 1,506 23
Sales Workers 1,756 965 15
Machinery Operators and Drivers 1,755 1,158 13
Labourers 2,475 1,382 11
Other 2,844 1,056 19
Total 19,354 10,706 235

 

 

ANZSCO Occupational Group Number of people
employed
in the May
quarter 2014 ('000)

% Of
Bankrupts
to Number
of people
employed

% Of
Insolvency Agreements
to Number
of people
employed
Managers 1,496.4 0.12% 0.06%
Professionals 2,579.9 0.07% 0.04%
Technicians and Trades Workers 1,678.4 0.19% 0.08%
Community and Personal Service Workers 1,169.1 0.15% 0.11%
Clerical and Administrative Workers 1,673.6 0.13% 0.09%
Sales Workers 1,084.8 0.16% 0.09%
Machinery Operators and Drivers 746.7 0.24% 0.16%
Labourers 1,166.3 0.21% 0.12%
Other not applicable NA NA
Total 11,595.0 0.17% 0.09%
 

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