Thriving industries
One of the most important employment industries in Australia is the service sector, which includes a wide range of industries such as healthcare, education, tourism, and professional services. This sector makes up approximately two-thirds of the country's gross domestic product and offers a wealth of employment opportunities. Healthcare and social assistance is a fast-growing industry with a high demand for qualified professionals such as doctors, nurses, and allied health and social workers due to Australia's aging population. The shortage of qualified healthcare professionals in the country led to the introduction of free university degrees, training, and upskilling for current and aspiring nurses and midwives in Victoria from 2023.Another important sector of employment in Australia is the mining industry. Australia is rich in natural resources and mining plays an important role in the country's economy. Close to two hundred thousand workers were employed in the mining sector in 2022, with a range of job opportunities to choose from, such as roles for miners, engineers, geologists, and administrative professionals. Employment in the mining industry attracts the highest average weekly earnings in the country, and many of the positions are so-called ‘FIFO’ jobs, meaning workers fly in, work for a period, and fly out. The construction industry is another popular employment sector for workers in Australia, which, like mining, is dominated by males. As Australia’s population continues to expand, it is no surprise that residential construction accounts for a large share of construction activity in the country, along with commercial construction and public infrastructure.
The link between education and income
Contrary to the belief that high-paying jobs are directly linked to higher education, a significant share of workers in both the well-paying mining and construction industries do not hold a tertiary education. Nonetheless, earning a degree from a reputable Australian university can greatly improve employment prospects, as many employers require or expect a tertiary qualification. Graduates with qualifications in fields experiencing job shortages in Australia, such as healthcare, teaching, information technology, and business, are often in high demand. However, it is often important for graduates to also develop practical skills and gain relevant work experience, for example through internships and job placements during their studies, to strengthen their chances in entering the job market.On a global scale, Australia ranks among the highest income countries. The minimum wage in Australia is set by the Fair Work Commission and is regularly reviewed to ensure workers are paid fairly. Australian employers generally offer competitive pay, although the average salary tends to vary based on industry and profession. Salaries can also vary based on factors such as years of experience, qualifications, and location. Other factors impacting earnings include whether an employee is employed on a casual, part-time, or full-time basis, or whether a salary sacrifice has been negotiated. In addition to the payment of wages and salaries, the superannuation or pension scheme in Australia also mandates that employers make regular contributions - currently set at a minimum of 11 percent of an employees’ ordinary earnings - for most employees in Australia.
