Project Sydney: Super sectors stave off unemployment
SUPER sectors like tourism, healthcare and tech are more crucial than ever to Sydney’s boom regions as new figures reveal a dramatic future jobs shortage.
Project Sydney
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SUPER sectors like tourism, healthcare and tech are emerging as more crucial than ever to Sydney’s boom regions as new figures reveal a dramatic future jobs shortage.
Projections from research analysts McCrindle compiled exclusively for The Daily Telegraph reveal if greater Western Sydney’s population continues to boom at today’s soaring rate, there will be just one job for every three people in the region by 2036. That translates to less than one job for every four people in Canterbury-Bankstown, one for five people in Camden, and and one job for every three people in Blacktown.
But analysts have pinpointed the top industries that could flourish and provide a solution to fill the vacuum.
The Daily Telegraph yesterday revealed plans are afoot to super charge Western Sydney tourism, with a target to draw 14.3 million visitors a year in time for the opening of the airport at Badgerys Creek.
It comes amid a raft of warnings about future unemployment in Western Sydney. Despite NSW’s unemployment rate remaining steady at 5.1 per cent, Western Sydney University is forecasting a dire jobs deficit of 310,000 by 2036.
“Unemployment is the most obvious consequence of failing to address the job deficit, but what we’re also concerned about is people only finding employment in low wage and low skill jobs,” university assistant vice-chancellor Andy Marks said.
Consultants Deloitte projected the tourism industry in Western Sydney had the potential to employ an extra 25,000 people by 2020, manufacturing could add an extra 63,000 workers, health, education and the public sector could add an extra 52,000, and other “business services” — including IT — could also add an extra 39,000 workers.
“Population is growing rapidly and when you combine this with automation, which is going to replace jobs in traditional industries, you have what could be a perfect storm,” trends analyst Mark McCrindle said.
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These super sectors could be key to stopping jobs shortfall
Tourism:
Figures from Destination NSW show Western Sydney’s tourism industry is booming with 12.4 million international and domestic visitors contributing a whopping $4.2 billion into the region last year- up 69 per cent in the past five years.
Deloitte predicts tourism will create an extra 25,000 jobs in the region by 2020.
Healthcare:
Healthcare is one of the few sectors where automation is not able to replace frontline workers. As population grows there will become a greater need for new health services in Western Sydney and Deloitte predicts an extra 52,000 jobs could be added by 2020.
Manufacturing:
With more warehouses relocation to Western Sydney from the Inner West industrial hub, Deloitte predicts an extra 63,000 manufacturing by 2020.
IT
With a young population and low start up costs, experts are spruiking Western Sydney as the next Silicon Valley. Deloitte predicts the business services sector could add an extra 39,000 people in the region by 2020.
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