Australian workers could make thousands of dollars more every year by leaving their current work and reskilling in the technology sector, a new study has disclosed. Australia will have an extra 100,000 technology jobs in five years time, as the digital sector ramps up its contribution to economic growth. But local IT graduates and skilled migrants alone aren't expected to meet the rising demand for technology workers.
The findings have emerged in the Australian Computer Society's annual stocktake of the nation's digital workforce and economy, prepared by Deloitte Access Economics.
An estimated 100,000 new IT roles will be created by 2024, bringing the total to approximately 792,000, said the Australia’s Digital Pulse 2019 report commissioned by the Australian Computer Society (ACS).
While retraining into the IT industry can give the average Australian worker an increase in the salary of $11,000, the country is expected to fight to find workers who can handle the upcoming tsunami, warned the report.
There has been a decrease in the stake in IT in the industry of Vocational Education and Training (VET), with 11,875 IT subjects enrolled between 2016 and 2017.
University completions in technology grew significantly over the same era to just under 6000.
The ACS chairman Yohan Ramasundara said, "Meeting the voracious demands for more technology workers and increased investments from Australia’s businesses will be a huge challenge.''
Over the next five years, the four leading sectors expected to account for 66.4 percent of total employment growth are:
- Health Care and Social Assistance
- Professional, Scientific and Technical Services
- Education and Training