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Victoria’s Social Economy

This is a story about dramatic economic change, happening at such a pace and scale that it can no longer be ignored.

At its centre is the ‘social economy’— the more than one million jobs associated with the provision of health and social services Australia-wide. These  jobs are tipped to grow by 250,000 over the next five years, and by over 60,000 in Victoria alone. This growth is double that of the next fastest growing jobs segment, professional, scientific and administrative work, which will generate 125,000 new jobs.

However despite this rapid growth, the social economy is largely overlooked in discourses about Victoria’s and Australia’s economic future. Instead, attention is typically
given to new jobs in advanced manufacturing, defence, science, technology, engineering and maths (STEM), and construction.

What is needed is recognition of the new reality, that social service jobs are part of a modernised, rapidly growing industry and profession.

Download the full Victoria’s Social Economy report below.