The Government will set a new jobs target to grow the local labour market to 300,000 jobs in the Territory by 2030 as our economy continues to recover strongly from the impacts of the COVID-19 pandemic.
June 2023 ABS data shows the total number of people employed in the Territory now sits at around 265,000.
With the post covid recovery well underway, the ACT Government will now focus on the growth and diversification of our local jobs market by supporting the creation of tens of thousands of new jobs over the coming years.
There will be new jobs in our local construction industry, with more housing and more public infrastructure in the Territory's forward Budget estimates. The recently announced 'National Capital Investment Framework' with the Commonwealth Government will also boost our local infrastructure market.
Tourism, hospitality and higher education are three major employers in the Territory, and the Government is continuing to partner with these sectors to support their continued growth.
The ACT public service is also set to grow. We are hiring more nurses and health professionals for our new and expanded hospitals, and we will hire more teachers for our new schools.
The diversification of our local jobs market is leading to a more sustainable Territory budget. Revenue from payroll tax now surpasses general rates as the Territory's highest area of own source revenue at 30.6 per cent. The Government's budget position improved by more than $400 million over four years in the 2023-24 Budget.
Progressive tax reform will continue to ensure our budget remains sustainable and helps to meet the needs of a growing population, requiring more essential community services.
