Top 5 Industries
|Employ’t Nov 2015||Share of total||5 year change to Nov 2015|
|Health Care and Social Assistance||413.8||13||76.1||22.5|
|Professional, Scientific and Technical Services||303.6||9||53.0||21.2|
Victoria is the second largest employing state, with employment concentrated in Melbourne. Over the past five years, Victoria added more jobs than any other state. Health Care and Social Assistance provided the largest number of new jobs during this period, with significant numbers also added in Professional, Scientific and Technical Services and Construction. Job losses, however, were recorded in six of the 19 industries, with the largest fall in Wholesale Trade (down 13,600).
Around 68% of Victorian workers hold post-school qualifications and they are more likely to have a bachelor degree or higher qualification than the national average. Melbourne has the most highly educated workforce in the state (37% hold a bachelor degree or higher).
Victoria’s age profile is similar to the national average, although some areas have relatively large shares of workers aged 55 years or older, such as Hume, North West, and Warrnambool and South West.
13% of Victorian workers are also studying
Current conditions (to January 2018)
Labour market conditions strengthened in Victoria over the year, with employment increasing by 100,200. The increase was driven by rising full-time employment, up by 66,600 over the year, while part-time employment also increased (up by 33,600). The state’s unemployment rate decreased by 0.2 percentage points over the year to 5.6% (marginally higher than the national rate of 5.5%), while the participation rate rose by 0.4 percentage points to 65.9% (above the national rate of 65.6%).
Conditions for youth in Victoria have been mixed over the year, with youth employment rising by 1,100 (or 0.2%), while the youth unemployment rate also increased, albeit marginally, by 0.2 percentage points to 13.2% in January 2018, above the national youth unemployment rate of 12.3%.
The short-term outlook for the Victorian economy is positive. The Victorian Department of Treasury and Finance has forecast employment growth of 2.0% in 2018-19, while the unemployment rate is expected to average 5.75% over the period. Over the five years to May 2022, employment in Victoria is projected to increase by 8.8% (above the projected national growth of 7.8%).
Employment by region, Victoria
|Employment||Employment Profile||Workforce Educational Profile||Projected Employment|
|Employ’t Nov 2017||5 year change
to Nov 2017
|Part-time||Female||Aged 15 to 24 years||Aged 55 years or older||Bachelor degree or higher||Cert III or higher VET qual||No post-school qual||5 year change to May 2022|
|Latrobe - Gippsland||126.2||1.0||0.8||39||47||14||26||17||39||37||4.1|
|Warrnambool and South West||67.1||4.9||7.8||36||47||15||27||18||36||39||5.8|
1. Some data are trend and, for these, totals do not add
Sources: ABS, Labour Force (trend and annual averages of original data); ABS, Census of Population and Housing; Department of Jobs and Small Business, Regional Employment Projections; Department of Treasury and Finance, Victoria
For more information see lmip.gov.au