Think green, work green and start counting cash
Frances Stewart
Taking care of the environment, people and personal finances will drive the job market for the next five years, business intelligence company IBISWorld predicts.
Organic farming tops the list of employment opportunities in the next five years as consumers become increasingly health conscious and environmentally aware.
IBISWorld projects the organic farming sector will see revenue grow at an average 13.4 per cent a year to reach about $760 million nationally in 2014.
Employment is forecast to grow alongside revenue projections, expanding from 6.2 per cent in 2012-13 to 11.2 per cent in 2013-14.
General manager Robert Bryant says higher returns for farmers and growing consumer demand will drive the sector’s expansion.
“Not only does organic farming offer higher returns for farmers but also recent studies suggest it is more resilient and adaptable to changing conditions wrought by climate change – encouraging some farmers to switch from conventional to organic farming,” he says.
Mr Bryant says job opportunities in organic farming range from unskilled farm hands to itinerant fruit pickers and skilled horticulturists. “While many of the jobs created will fall into the category of unskilled labour, there will also be opportunities created for ecologists, biodynamic farming specialists and researchers,” he says.
Not just those working on the land will benefit from the focus on sustainability.
As the green message begins to translate into government policy, the introduction of an emissions trading scheme will create new opportunities for investment banking and security brokerage. IBISWorld predicts strong employment and wage growth for the sector, which came in at No 2 on the list of top jobs, between 2012 and 2014.
In the wake of the global financial crisis, jobs relating to personal and corporate finances also will be abundant.
Accounting services, No 9 on the list, was one of the sectors hardest hit by the economic downturn. IBISWorld expects the current financial year will prove no different, with industry revenue falling by 1.1 per cent to $14 billion and a 1.6 per cent decrease in employment levels.
Mr Bryant, however, says the industry is well positioned to take advantage of the recovery as changes to regulation brought in to combat the global financial crisis take effect.
“Increased compliance requirements and other recent regulatory changes, such as the Anti-Money Laundering and Counter-Terrorism Act of 2006, or any future climate change legislation will help fuel demand for accounting services over the next five years,” he says. As Australia’s baby boomers approach retirement age, IBISWorld projects demand for financial planning and investment advice to increase significantly in the next five years.
That will result in employment growth of 4.1 per cent in 2013-14 and put the sector at No 8 on the top jobs list.
“Prior to 2009-10, growth in demand for finance and investment advice services outpaced the number of qualified staff, leading to a skills shortage,” Mr Bryant says.
“As the economy recovers, demand is expected to pick up again, meaning the sector will need additional professionals to service growing demand.”
Child care, another sector that has suffered skills shortages, is tipped for strong growth. It comes in at No. 5 on the list.
Employment in the industry is expected to grow by 6.1 per cent in 2013-14, creating employment for staff with varying qualification levels.
TOP JOB GROWTH INDUSTRIES FOR 2010
1 Organic Farming
2 Investment Banking & Securities Brokerage
3 Mining: Nickel Ore and Iron Ore
4 Online Information Services
5 Child Care Services
6 Veterinary Services
7 Financial Planning & Investment Advice
8 Accounting Services
9 General Hospitals
10 Biotechnology
