Pete Wargent blogspot

CEO AllenWargent Property Buyers, & WargentAdvisory (institutional). 6 x finance author.

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Tuesday, 10 January 2017

New jobs - close to the city


A small point but one that seems to cause more than its fair share of confusion.

The labour force figures by sub region are based upon where people normally reside - not where their jobs are located.

As such it stands to reason that the areas showing the greatest growth are often those where there are more homes being built, such as Parramatta and Blacktown in Sydney (and not the eastern suburbs, or lower north shore). 

In south east Queensland the big numbers are often found in growing conurbations with more land available for release such as Logan-Beaudesert and Ipswich. 

Central tendency

Nobody can say for certain where the jobs of the future will be located.

But to take the example of Brisbane, the government has to make a forecast in order to plan its long term infrastructure projects. 

For Brisbane, the Central Business District and its all but adjacent suburbs such as South Brisbane, Fortitude Valley, Bowen Hills, and Woolloongabba (which the QLD gov seems to have a problem spelling!) are the expected to create the jobs. 

Looked at visually...

Source: Queensland Government

Over the next two decades, the resident population in metropolitan Brisbane is projected to grow by an additional 820,000 residents.

Of the 670,000 additional jobs forecast in south east Queensland by 2031, approximately 443,000 or 66 per cent are expected to be based in metropolitan Brisbane.

Almost two-thirds of these additional jobs at 290,000 will be in Brisbane City, which demonstrates the city’s prominent role as the region’s economic powerhouse.

The CBD and surrounding suburbs will remain a key employment centre for south east Queensland’s residential population, providing approximately 380,000 jobs by 2031.