The construction industry plays an important part in the Australian economy. In fact, it is the third largest industry in Australia when it comes to the amount of people it employs and its share in the GDP (Gross Domestic Product).
Here are 10 facts you didn’t know about the Australian construction industry.
1. 1,15 million people
In 2019, the industry employed over 1,15 million people in all construction positions. And, this represents 9.0% of all jobs in Australia.
2. $360 billion revenue
Also, in 2019, it generated over $360 billion in revenue. And, it has a share of 9% in the total GDP for Australia.
3. The construction industry worker profile
Then, the average age of construction workers is 37 years. And, the average weekly earnings are around $1,281 per week.
4. Women in the construction industry
Also, women comprise only 12.1% of the construction workforce. However, it is predicted this number will increase as stereotypical expectations are being challenged. This may see more women on worksites and taking on leadership responsibilities in addition to administrative roles.
5. Female traffic controllers
In addition, hundreds of women are taking up roles at construction sites where they earn well.
6. Technology and the construction industry
Beside, with the introduction of drones, there have been recorded advantages from generating greater efficiency, monitoring and tracking progress on all projects (no matter the size); and even saving money.
7. Improved security services and more eco-friendly projects
The changes occurring in the construction industry have seen improvements in security services and the introduction of eco-friendly materials and building means.
8. A dangerous industry despite progress
According to Safe Work Australia, though the work-related injury fatalities dropped by 62% from its peak in 2007, construction remains in the top three industries that imposes a risk to workers’ lives (as of 2018).
9. A shortage of skilled labourers
The industry has been experiencing a shortage of skilled labourers which reports indicate will continue in the coming years. One main concern is the huge turnover of skilled labourers.
10. A growing industry
The number of active construction projects continues to increase by 2% every quarter. This is perhaps the biggest evidence of the growth of the industry in Australia.
Extra Fact About the Construction Industry
The construction industry is not only growing in size, but it’s also growing in productivity. With an increase of 2.8% per year in productivity, the industry is equalling (and sometimes surpassing) its annual employment growth rate.
This industry is vital to the Australian economy. And, it continues to evolve alongside the growth and development occurring in Australia. It is exciting times for the construction industry so watch this space to see what’s coming next…