Impacts of retail and hospitality
The service industries employ almost 2.4 million people and represent nearly a quarter of Australia’s workforce. The contribution of the service industries to Australia’s gross domestic product (GDP) for 2009-10 was over AUD53 billion (4.4%) for the retail trade sector and over AUD27billion (2.3%) for accommodation and food services.
Sectors such as retail and hospitality often provide the first job for many Australians, whether a part-time job while studying or a first full-time job – for many individuals providing the basic ‘know how’ for their future working life, in the service industries or beyond. 54% of all working women are employed in the service industries. 48% of employees work part-time and traditionally the industry has a high casual workforce.
The economic impact of these industries is widespread. Policies to improve skill use and participation must take into account the dynamics of the workforce and complexity of the trends that affect it. Paid and unpaid labour in the service industries workforce does not follow traditional career pathways and often covers multiple sectors.
In the four years to 2014-15, employment in accommodation and food services is expected to grow at an average rate of 2% per annum, which equates to around 79,000 new jobs. During the same period, employment in the retail industry is expected to grow at an average rate of 1.8% per annum, which equates to around 106,600 new jobs.
Futurum Australia has a history of industry engagement, through innovative and creative education training systems, which results in enhanced skill use and increased productivity in the service industries’ workforce.
Futurum Australia offers accredited courses for Workplaces and Individuals in Retail Management and Hospitality with flexible learning deliveries. Contact us on 1300 FUTURUM for more information or submit an online enquiry to have one of our staff contact you.