Despite notable job cuts, Australia’s technology industry experienced an 8 per cent growth in the previous year. The industry, notably, has managed to create over 10,000 new positions in the initial quarter of 2023.
As per a research conducted by the Tech Council of Australia (TCA), approximately 10,500 new jobs were created between January and March 2023. Additionally, the country’s technology workforce expanded by 70,000 positions, reaching a total of 935,000 jobs by February 2023. Moreover, the report also revealed a remarkable trend: for every job that was lost in the past quarter, 20 new positions were created.
The majority of these positions originated from the indirect tech sector, which refers to tech-intensive jobs in non-tech industries like retail, banking, professional services, government, and mining. Furthermore, the increase in tech jobs within non-traditional tech sectors, signifies a significant and enduring structural shift in the Australian economy. It also highlights the pervasive integration of digital skills across all sectors of the economy.
The highly demanded IT skills possessed by tech workers are highly transferable and can be applied to any company, regardless of its location within the country. Additionally, the tech sector has become a significant source of employment across all states and territories, ranking as Australia’s 7th largest employing industry. Furthermore, tech jobs are experiencing faster growth rates compared to the average job in each state and territory’s respective economy.
The report also suggests that this growth demonstrates the advantageous aspects of working in the tech industry, including the ability to transfer skills between different roles and the flexibility it offers. This growth also aligns with the council’s government-supported goal of achieving 1.2 million tech jobs by 2030.