Jobs of the future
Strong job growth is one of the signs that the economy is doing well and the climate is right for property investment.
Last year's trend of solid employment growth is expected to continue this year, with the following five industries believed to lead the charge. Business information analysts, IBISWorld, predict these are the industries expected to demonstrate the strongest employment and wages growth in the years 2011 to 2016.
Child care services
Child care is one sector expected to experience the greatest employment growth as new regulations aimed at boosting staff-to-child ratios and greater child care worker qualification levels create increased demand for skilled workers and force wages up.
Running a close second to looking after our children comes looking after our 'four-legged' friends. People are spending increasingly more on their pets, which has led a growth in a wide range of services to pets such as chiropractics, ophthalmology, dentistry and dermatology. Both veterinarians and veterinary nurses are in high demand as pet owners do everything they can to increase the longevity of their pets.
This is the name given to the industry that transports, stores and distributes goods into, out of and throughout Australia. Limited tertiary courses in this field and growth in international trade has created vast integrated logistics networks that are facing a shortage of highly skilled and well-trained logistics managers.
Our ageing population is driving employment growth in the health sector, with ongoing demand for qualified surgeons, anaesthetists, occupational therapists, medical technicians, radiologists, paediatricians and ambulance officers. Allied health professionals such as physiotherapists will also enjoy strong demand as their services becoming increasingly popular with the elderly.
The finance sector has made a comeback since the economic downturn and IBISWorld expects growing household wealth, more funds under management and the provision of an increasing array of financial services and products. With the return of investors to the market, the big winner in finance is the securitisation industry, which is expected to experience both employment and wage growth. Other growth areas include mortgage broking, foreign banking and superannuation funds management.
City vs. country
When employment growth is combined with population growth in a certain areas, these areas often become property 'hotspots'. While these hotspots are commonly found in city suburbs, property investors are increasingly considering regional areas, particularly if sustainable job opportunities are available. With the Federal Government poised to spend billions in the bush thanks to the influence of the independents, rural areas may well provide increased job growth in the future.