Sydney & NSW Regions| Market Overview

With approximately 32% of Australia’s population located in New South Wales, employment growth has tended to remain relatively steady over recent times, with NSW boasting one of the country’s strongest employment increases.

New South Wales also employs the greatest amount of skilled workers in Australia, including managers, professionals, trades workers, and technicians. Most of NSW has seen an increasingly strong job market over recent months, particularly Sydney’s job market.

The CBD of Sydney has typically been the State’s major economic core, with western Sydney also continuing to show signs of substantial growth and interest. Interestingly, Sydney-siders are beginning to prefer to work closer to home, to avoid heavy traffic as much as possible, which appears to be affecting employment growth in areas such as Sydney’s west.

With Sydney as a whole becoming a major influence worldwide, the city is seen to be thriving and receiving interest from international companies seeking to expand globally and seeking professionals in senior management positions.

Over recent years, Sydney in particular has seen employment growth in a range of industries including:

  • IT & Communications
  • Health Care
  • Financial Services
  • Engineering Management
  • Trades and Services

The high rate of construction works has tended to see the construction industry experience growth at a substantial rate, with new jobs being created in this sector in recent times.

Sales positions in Sydney are still prevalent and have tended to remain steady over recent times, while the banking and financial services, accounting, and farming and conservation sectors have shown signs of decreases in employment. A portion of these, particularly in the banking and financial services and accounting sectors, are likely to be due to cost cutting which has resulted in outsourcing offshore.

Experts believe Sydney’s employment market will continue to flourish as the central point of Australia’s increasing influence globally.

Temp and contract positions are becoming more and more popular, with for example the NSW Government being one of the state’s largest employers of these type of positions.

A high proportion of workers in NSW have undertaken post-school qualifications, with Sydney possessing the highest educated workforce throughout New South Wales.

Jobseekers with limited experience seeking entry-level employment in Sydney, however, are finding job prospects limiting, with some individuals spending years to gain employment due to graduating jobs falling substantially and occupying a small percentage of the job market.

The youth unemployment rate in NSW that was at its highest less than ten years ago, is currently alarmingly low, although job circumstances for youth have improved slightly more recently.

Overall, advertisements by employers for jobs in New South Wales continue to be high over recent years, with current figures showing New South Wales to be the largest employing state, with particular focus on Sydney, employing around two-thirds of the NSW workforce.

Useful Reading:

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