Australian Construction Industry Snapshot – 2017

The construction industry by numbers in 2017

The construction landscape continues to shift as companies adopt innovative technologies, new construction techniques and continue a global trend toward digitalisation. By adopting and exploiting these innovations, companies have the opportunity to boost productivity, streamline their project management and procedures, and enhance quality and safety.

Meanwhile Australia’s cities, towns and regions are enjoying an exceptionally robust period of growth which means the construction industry is reaping the rewards of increased demand for quality infrastructure.

So what does this all mean to the construction industry and the people employed within? We’ve pulled together some key stats from around the web so you can see just how your industry is fairing right now.

Industry Statistics & Market Size

Revenue

$349bn

Annual Growth | 2012 – 2017

1.4%

Employment

1,000,800

Businesses

333,500

Foreign direct investment stock| Value and percentage share

$17bn, 2.4%

Employment Statistics

Construction is the third largest employing industry in Australia, employing approx. 9% of total employment.

Construction is the third largest growth industry in Australia over the last decade. Industry employment has increased by 26.6%.

The construction industry has an employment growth rate of 2.4% per annum, compared with 1.8% per annum recorded across all industries.

The Construction industry has a relatively young workforce, with 43.3% of workers aged 15 to 34 years, compared with 38.8% across all industries.

The industry is the largest employer of young full time workers, employing 17.7% of all full time workers aged 15 to 24 years (in February 2015).

The Construction industry has the highest share of male employment of all broad industries, with male workers accounting for 88.8% of the workforce – compared with 54.1 per cent across all industries. (as at February 2015).

Construction industry employment is projected by 13% over the five years to November 2019, well above the growth rate of 10% projected for employment as a whole.

Victoria, NSW and Queensland account for roughly 74% of all construction employment in Australia.

The three largest employing occupations in Construction in 2014 (latest available data) were Carpenters and Joiners, Electricians and Plumbers.

References

Australian Trade and Investment Commission – Benchmark report 2017

Australian Government Department of Employment – Construction Industry Outlook

BCI Economics – Boom or Bubble? Australia Construction Outlook Report

Ibisworld.com – Construction in Australia

Builders Academy