Victoria’s prosperity is based on creating jobs and growing the state’s economy while making sure no one is left behind. Jobs are created and businesses grow when Victorians learn new skills and apply these skills in the workplace.
The Productivity Commission estimates that around 20% of labour productivity growth in Australia over recent decades is due to rising skill levels*. Post secondary education and training, including pre-accredited adult, community and further education (ACFE), vocational education and training (VET) and universities collectively have a role in building productivity and providing the skills that help deliver Victoria’s growth.
Of the approximate 392,00 new workers expected to enter the workforce in Victoria by 2027, 85% are expected to gain employment in occupations usually requiring post-secondary qualifications. Around 180,000 of these workers are expected in occupations usually requiring a VET qualification, followed by 163,000 new workers in occupations generally requiring a higher education qualification.
*5-year Productivity Inquiry: From learning to growth Inquiry report - Volume 8 February 2023.
Updated