It must be noted that out of the four BICs the knowledge intensive and industrial sectors generated the lowest amount of employment (refer to Section 5.2.2). However, they had the two highest worker productivity rates at around $121,879 and $100,690 per worker, respectively. This implies that industries in these BICs are generally more productive than other industries. This highlights that although they are not high employment generators, they significantly contribute to the overall economic growth and sustainability of the Clarence Valley economy. Figure 10: Industry value added by industry 2019/20 ($m) $0
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Construction Health Care and Social Assistance Public Administration and Safety Retail Trade Agriculture, Forestry and Fishing Education and Training Manufacturing Electricity, Gas, Water and Waste Services Rental, Hiring and Real Estate Services Accommodation and Food Services Professional, Scientific and Technical Services Transport, Postal and Warehousing Financial and Insurance Services Administrative and Support Services Other Services Wholesale Trade Information Media and Telecommunications Arts and Recreation Services Mining Source: Profile.id
5.2.6
Employment projections
Transport for NSW (TfNSW) released updated employment projections in September 2020. However, these have been based on a total population in Clarence Valley of around 50,410 persons by 2041. This implies that Clarence Valley’s population will decrease over the coming decades by around 1,365 persons. The decrease in population results in an estimated overall loss in employment of around 270 jobs over the period between 2020-2041. Only four industries have a positive increase in employment, these being accommodation and food services (+55 jobs); public administration and safety (+152 jobs); education and training (+55 jobs); and rental, hiring and real estate services (+29 jobs). Moreover, TfNSW’s 2041 population is also around 10,325 persons or 20% lower than Clarence Valley’s projected population in 2041 forecasted by Profile.id (refer to Section 5.1.7). To account for this discrepancy and properly plan for a growth in the resident population, HillPDA has pro-rated TfNSW employment projections to Profile.id’s population projections (see Table 8). Using this methodology, it is forecast that employment would increase from around 18,220 jobs in 2020 to 22,225 by 2041. This represents an increase of around 4,000 jobs or 22% over the period. All industries are forecast to grow except for agriculture, forestry and fishing which is projected to decrease by around 118 jobs.
P22016 Clarence Valley Employment Lands Background
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