{"id":157001,"date":"2021-09-17T17:30:07","date_gmt":"2021-09-17T07:30:07","guid":{"rendered":"https:\/\/propertyupdate.com.au\/?p=157001"},"modified":"2024-07-04T05:42:00","modified_gmt":"2024-07-03T19:42:00","slug":"the-australian-five-year-job-forecast-figures-are-out-what-do-they-say-about-our-future","status":"publish","type":"post","link":"https:\/\/propertyupdate.com.au\/the-australian-five-year-job-forecast-figures-are-out-what-do-they-say-about-our-future\/","title":{"rendered":"The Australian five-year job forecast figures are out: what do they say about our future?"},"content":{"rendered":"<p><strong>Recently the National Skills Commission published a really interesting data set talking about the five-year jobs forecast, this is a very big undertaking.<\/strong><\/p>\n<p>And it helps us understand the future of our economy.<\/p>\n<p>So, what does a job forecast actually tell us?<\/p>\n<p>It tells us that over the next five years we will be adding virtually a million jobs.<\/p>\n<div class=\"lyte-wrapper\" title=\"The Australian five-year job forecast figures are out. Here is what they say about our future...\" style=\"width:640px;max-width:100%;margin:5px auto;\"><div class=\"lyMe\" id=\"WYL_a_rqRvctSYo\" itemprop=\"video\" itemscope itemtype=\"https:\/\/schema.org\/VideoObject\"><div><meta itemprop=\"thumbnailUrl\" content=\"https:\/\/i.ytimg.com\/vi\/a_rqRvctSYo\/hqdefault.jpg\" \/><meta itemprop=\"embedURL\" content=\"https:\/\/www.youtube.com\/embed\/a_rqRvctSYo\" \/><meta itemprop=\"duration\" content=\"PT3M52S\" \/><meta itemprop=\"uploadDate\" content=\"2021-09-05T07:47:48Z\" \/><\/div><div id=\"lyte_a_rqRvctSYo\" data-src=\"https:\/\/i.ytimg.com\/vi\/a_rqRvctSYo\/hqdefault.jpg\" class=\"pL\"><div class=\"tC\"><div class=\"tT\" itemprop=\"name\">The Australian five-year job forecast figures are out. Here is what they say about our future...<\/div><\/div><div class=\"play\"><\/div><div class=\"ctrl\"><div class=\"Lctrl\"><\/div><div class=\"Rctrl\"><\/div><\/div><\/div><noscript><a href=\"https:\/\/youtu.be\/a_rqRvctSYo\" rel=\"nofollow\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/i.ytimg.com\/vi\/a_rqRvctSYo\/0.jpg\" alt=\"The Australian five-year job forecast figures are out. Here is what they say about our future...\" width=\"640\" height=\"340\" \/><br \/>Watch this video on YouTube<\/a><\/noscript><meta itemprop=\"description\" content=\"This video summarizes my latest column (read for free here, there is no pay wall): https:\/\/thenewdaily.com.au\/news\/national\/2021\/09\/05\/stats-guy-employment-projections\/ The Australian five-year job forecast figures are out. Here is what they say about our future: one million new jobs, most growth in healthcare and knowledge work, the article features details tables for your job as well... Let&#039;s connect on social media: LinkedIn https:\/\/www.linkedin.com\/in\/simonkuestenmacher Twitter https:\/\/twitter.com\/simongerman600 Facebook https:\/\/www.facebook.com\/SimonGerman600 Instagram https:\/\/www.instagram.com\/simongerman600 If you are interested in commissioning demographic research for your organisation, please reach out via: https:\/\/www.tdgp.com.au\/ If you need a speaker for your next conference or a boardroom briefing please reach out via: https:\/\/www.simonkuestenmacher.com\"><\/div><\/div><div class=\"lL img-responsive\" style=\"max-width:100%;width:640px;margin:5px auto;\"><\/div><\/p>\n<p>A quarter of those million jobs will be in healthcare \u2014 that's the biggest growth sector by far in Australia.<\/p>\n<p>We are an aging society, we are a rich society, we are actually running the <a href=\"https:\/\/ctars.com.au\/blog\/what-is-the-ndis\/\">NDIS (National Disability Insurance Scheme)<\/a>, and all of that turbocharges the healthcare sector.<\/p>\n<p><a href=\"https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2021\/09\/chart01-1.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-157003 img-responsive\" src=\"https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2021\/09\/chart01-1.jpg\" alt=\"Chart01\" width=\"1111\" height=\"657\" srcset=\"https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2021\/09\/chart01-1.jpg 1111w, https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2021\/09\/chart01-1-800x473.jpg 800w, https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2021\/09\/chart01-1-600x355.jpg 600w, https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2021\/09\/chart01-1-300x177.jpg 300w\" sizes=\"auto, (max-width: 1111px) 100vw, 1111px\" \/><\/a><\/p>\n<p>If we look at the types of jobs by skill levels that shows that half (53%) of all new jobs that we're adding next five years require a university-level education.<\/p>\n<p>Highly skilled jobs are what make the most of that jobs growth, so we can't possibly fill all those jobs with the people that already live in Australia.<\/p>\n<h2>That's why we are running an immigrant country.<\/h2>\n<p>The demands for jobs can only be filled with workers, so we would actually forego economic growth, collective prosperity if we were not to use migration.<\/p>\n<p>It's one of the arguments why migration will continue to be a big issue in Australia and will drive many people into the country as soon as borders are open again.<\/p>\n<p><a href=\"https:\/\/infogram.com\/stats-guy-visual-2-1h7k230vr9p1g2x\" target=\"_blank\" rel=\"noopener\">Here<\/a> is the full list of high-in-demand jobs in November 2020 and November 2025.<\/p>\n<p><a href=\"https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2021\/09\/Screen-Shot-2021-09-13-at-9.38.00-pm.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-157005 img-responsive\" src=\"https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2021\/09\/Screen-Shot-2021-09-13-at-9.38.00-pm-1051x692.png\" alt=\"New Jobs\" width=\"1051\" height=\"692\" srcset=\"https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2021\/09\/Screen-Shot-2021-09-13-at-9.38.00-pm-1051x692.png 1051w, https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2021\/09\/Screen-Shot-2021-09-13-at-9.38.00-pm-800x527.png 800w, https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2021\/09\/Screen-Shot-2021-09-13-at-9.38.00-pm-600x395.png 600w, https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2021\/09\/Screen-Shot-2021-09-13-at-9.38.00-pm-300x198.png 300w, https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2021\/09\/Screen-Shot-2021-09-13-at-9.38.00-pm-1536x1012.png 1536w, https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2021\/09\/Screen-Shot-2021-09-13-at-9.38.00-pm.png 1886w\" sizes=\"auto, (max-width: 1051px) 100vw, 1051px\" \/><\/a><\/p>\n<p>If we look at the fastest-growing jobs we see highly-trained jobs left, right, and centre.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-156773 img-responsive\" src=\"https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2021\/09\/skilled-300x225.jpg\" alt=\"Skilled\" width=\"300\" height=\"225\" srcset=\"https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2021\/09\/skilled-300x225.jpg 300w, https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2021\/09\/skilled-600x450.jpg 600w, https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2021\/09\/skilled.jpg 800w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/p>\n<p>It is healthcare, professional services, high-tech industries, knowledge workers that are driving the growth over the next five years.<\/p>\n<p>But if we also look at the total number of jobs added, we add not only the highly-skilled Level 1 jobs but also Skill Level 4 jobs which are low-skilled jobs.<\/p>\n<p>These jobs are still making the second-largest growth sector, and the problem with those jobs is that if you rely for your family income on one of those Level 4 jobs, you will not be living a happy life in Australia.<\/p>\n<p>They just don't pay enough.<\/p>\n<p>So, collectively speaking, we will need to make sure to shift as many jobs as possible from Skill Level 4 and 5 (low-paid, low skilled jobs) into middle-skilled jobs.<\/p>\n<p>The problem is that we can't create these at will, so ultimately we will need to have a very honest discussion about the raising the minimum wage in Australia.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-156101 img-responsive\" src=\"https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2021\/08\/wages-300x225.jpg\" alt=\"Wages\" width=\"300\" height=\"225\" srcset=\"https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2021\/08\/wages-300x225.jpg 300w, https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2021\/08\/wages-600x450.jpg 600w, https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2021\/08\/wages.jpg 800w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/>Ideally, from a management perspective, you would just want to have people that fully rely on those incomes, because you don't care what people earn that are in education, that are training to become a lawyer, an engineer, but do these poorly paying jobs on the side.<\/p>\n<p>Who cares what kind of jobs they do?<\/p>\n<p>They do low-skilled work under miserable conditions, and it's not that important for the economy and individuals' lives because they just run through a short hard time in their life.<\/p>\n<p>But that's not what we are seeing here.<\/p>\n<p>We are seeing a constant shift - a hollowing out the Australian workforce into more high-income workers and more low-skilled workers, and the one way to ensure that these people receive a fair go in Australia is to raise the minimum wage.<\/p>\n<!-- BODY -->\r\n<!-- \/21854739906\/WADiff \r\n<div class='gam-diff googlead' id='div-gpt-ad-1591954226942-0'>\r\n  <script>\r\n    googletag.cmd.push(function() { googletag.display('div-gpt-ad-1591954226942-0'); });\r\n  <\/script>\r\n<\/div> -->\r\n\r\n<div class=\"adplugg-tag\" data-adplugg-zone=\"wealth_advisory_mobile_\"><\/div>\r\n<div class=\"adplugg-tag\" data-adplugg-zone=\"wealth_advisory_desktop_\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Recently the National Skills Commission published a really interesting data set talking about the five-year jobs forecast, this is a very big undertaking. And it helps us understand the future of our economy. So, what does a job forecast actually tell us? It tells us that over the next five years we will be adding&#8230;<\/p>\n","protected":false},"author":125,"featured_media":157002,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[54,1186],"tags":[],"class_list":["post-157001","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-property-updates","category-weekly_latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The Australian five-year job forecast figures are out: what do they say about our future?<\/title>\n<meta name=\"description\" content=\"Recently the National Skills Commission published a really interesting data set talking 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