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The top fve job sectors or2011 and beyond

Special ReportNovember 2010

As school leavers begin wrapping up their end-of-exam celebrations and start

focusing on their tertiary education and employment options, IBISWorld revealsthe sectors crying out for skilled workers, the industries offering the strongest

wage growth, and those that look to have a prosperous future.

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While high school graduates aregenerally encouraged to pursue furtherstudy or undertake apprenticeships intheir areas of interest and strength, it isequally important to consider futureemployment prospects and to have

realistic expectations. IBISWorld advisesstudents and other individuals lookingto begin further education to bethorough when investigatingopportunities. Each of the followingsectors is set to expand in employees andwages over the next ve years.

Child Care ServicesFor some time now, news outlets havebeen reporting on stafng shortages inthe Australian child care industry, but

new regulations aimed at boostingstaff-to-child ratios and mandating childcare workers qualication levels willdrive up wages and encourage

employment growth for skilled staff.These legislative changes are expected

to come on line progressively over thenext ve years, increasing wage costs asoperators will have to employ more staff and pay higher rates for staff with

further qualications. The downside forthe industry will be the fact that someproviders may struggle to comply withlegislative requirements due to reportedstaff shortages, especially in the face ofhigh demand for low-cost child care.

IBISWorld forecasts employmentgrowth for the industry of 27% in theyears through 2015-16, with averageyear-on-year wage growth around 4.2%.

Veterinary Services

Employment growth of around 26.4% inthe veterinary services sector over thenext ve years will largely result fromthe industrys diversication, offering

IBISWorlds top sectors or job growth in 2011 and beyond

Sector Employment Wages

Epyee

2010-11

Epyee

2015-16

Annuae gth

thugh 2015-16 Tta gth

Annuae gththugh 2015-16

Child Care Services 120,565 153,131 4.9% 27.0% 4.2%

Veterinary Services 21,535 27,223 4.8% 26.4% 4.5%

Integrated Logistics 368,455 451,974 4.2% 22.7% 2.5%

Health 737,538 860,251 3.1% 16.6% 20.3%

Finance 205,306 224,578 1.8% 9.4% 5.9%

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The top fve job sectors or 2011 and beyond

A strong andongoing trendof peoplespending moreon their petsis expected tosupport growthin veterinary

employmentand wages

pets a wider range of services, such aschiropractics, ophthalmology, dentistryand dermatology.

A strong and ongoing trend of peoplespending more on their pets is expectedto see continued growth in demand forboth veterinarians and veterinary nurses,with IBISWorld tipping wage growth ataround 4.5% per year.

Integrated LogisticsAlmost everything that is made, mined or

grown in or imported into Australianeeds to be transported, stored anddistributed, and the nations transportand logistics industry is currently worthmore than $100 billion dollars.

A sector that has slowly beentransformed from dusty warehousesand casual truckies to a sophisticated,high-tech industry, AustraliasIntegrated Logistics industry nowemploys nearly 370,000 people.

These vast networks manage thetransportation of goods from farms and

mining sites to export markets and frommanufacturers to wholesalers andretailers. Some even handle directdelivery to consumers.

Growth in international trade hasreshaped these networks, which havebecome increasingly complex andtherefore require highly skilled andwell-trained logistics managers. A shipdelayed in port can cost the operator$20,000 a day, while the shutdown of aproduction line due to a shortage of

components can cost even more. Limitedtertiary courses in this eld and stronggrowth in demand has resulted in anundersupply of skilled labour. IBISWorldanticipates employment growth over thenext ve years to be 22.7%, with wagegrowth of about 2.5% per year.

HealthOnce again, Australias ageing populationis contributing to employment growth this time in the health sector. Ongoingdemand for qualied surgeons,anaesthetists, occupational therapists,

medical technicians, radiologists,paediatricians and ambulance ofcers(among others) is expected.

Employment growth in generalhospitals will be around 18.2% over thenext ve years, while wage growth will belower, at 3.9%. Physiotherapists will enjoyhigher wage growth of 6.2% andemployment growth of 15.9% as thesub-sector continues to benet fromrising popularity among the over-65s.

Physiotherapists are in particularly

high demand to manage conditions thatbecome more prevalent with age, such ascardiovascular conditions, diabetes,arthritis and musculoskeletal problems;and growth in household disposableincomes is expected to further promotegrowth in this industry.

The development of specialisedphysiotherapy practices is likely topromote overall demand and to drive upwages, and the industrys association hascreated a new profession physiotherapyassistants to maximise the use of

qualied physiotherapists skills and toreduce the impact of workforce attrition.

FinanceWith stock markets around the globehaving now rebounded signicantlyfrom their March 2009 lows, thefortunes of the Australian nanceindustry have revived despite lingeringconcerns regarding US and Europeangrowth. The industry employs over200,000 people in more than 15,000

rms, and IBISWorld expects thatgrowing household wealth, more fundsunder management and the provision ofan increasing array of nancial servicesand products will cause industryrevenue to grow at an annualised rate of5.1% over the next ve years reaching$230.7 billion in 2015-2016.

While overall employment growthgures for the industry (annualised at1.8%) may not appear too strong, anumber of core sub-sectors arebrimming with opportunity.

With the return of investors to the

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The top fve job sectors or 2011 and beyond

market, the big winner in nance is theSecuritisation industry with projectedemployment growth of 29% between2011 and 2016, and annualised wagegrowth of 20.8%.

Opportunities are also abundantwithin the following industries: theShare Registry Services industry hasprojected employment growth of 27.6%between 2011 and 2016 and annualisedwage growth of 8.2%; Mortgage Brokinghas projected employment growth of

24% between 2011 and 2016 andannualised wage growth of 4.9%; ForeignBanking has projected employment

growth of 19.1% between 2011 and 2016and annualised wage growth of 9.6%;and Superannuation Fund Managementhas projected employment growth of18.3% between 2011 and 2016 andannualised wage growth of 6.5%.

As for the positions universitygraduates may secure in the nancesector, IBISWorld suggests businessanalysts, dealers, bankers and riskmanagers will be solid choices with goodgrowth prospects.

For more information on these, or anyof Australias 500 industries, log on towww.ibisworld.com.au.

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