Bank Worker

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Footnotes

1. All employees nationwide:

This is the number of people employed in this occupation as their main job across all Australian states.

Source: ABS, Labour Force Survey, Detailed, November 2023, Jobs and Skills Australia (JSA) Trend Data.

2. Projected growth:

Employment projections are important to understand how the current expected economic and labour market outlook is impacting Australia’s future workforce needs.

Jobs and Skills Australia has worked with Victoria University to produce employment projections for 2028 and 2033, using their Victoria University Employment Forecasting Model (VUEF). On this page Careers NSW have used the 2028 projections at 4-digit ANSCO level to understand the shorter-term trend for an occupation.

Key Points

Employment projections are important to understand how the current expected economic and labour market outlook is impacting Australia’s future workforce needs. Jobs and Skills Australia has worked with Victoria University to produce employment projections to 2033. Victoria University’s Employment Forecasting Model (VUEF) is underpinned by a computable general equilibrium (CGE) model.

The projections have been calibrated to the macroeconomic and labour market outlook provided by the Australian Treasury. The projections are presented over a 5-year period to highlight the shorter-term trends and over a 10-year horizon to show the impact of longer-term or structural trends.

Caveats

These projections are based off a starting point of employment estimated at May 2023 using the Australian Bureau of Statistics’ Detailed Labour Force Survey and trended by Jobs and Skills Australia, which may not align with estimates of employment from other data sources.

Like any forecasts, these projections are based on assumptions and are subject to an inherent degree of uncertainty. They are useful to demonstrate how current trends could be expected to play out rather than as precise predictions of the future. Caution should be exercised when using these projections.

Source: Jobs and Skills Australia (JSA), Employment Projections, May 2023.

3. Working in NSW:

This is the distribution of people employed in an occupation in NSW. Data for occupations with less than 50 people employed has been suppressed to protect confidentiality and prevent identification of individuals.

Source: ABS, Labour Force Survey, Detailed, November 2023, Jobs and Skills Australia (JSA) Trend Data.

4. Median weekly earnings before tax

Median weekly total cash earnings for full-time non-managerial employees paid at the adult rate. Earnings are before tax and include amounts salary sacrificed.

The "full-time non-managerial employees paid at the adult rate" population has been used because it excludes people paid unusually high or low amounts (for example managers, part-time employees and youths). This allows for more accurate comparison between occupations. These figures are a guide only and should not be used to determine a wage rate as they do not take into account years of experience or other factors that may influence a person’s wage.

Median weekly earnings figures are not produced for the following occupations:

• ANZSCO 6–digit occupations
• Senior Non-Commissioned Defence Force Officers (1392) and Defence Force Members - Other Ranks (4411), and
• ANZSCO 4–digit occupations where there is a high relative standard error.

Source: ABS Survey of Employee Earnings and Hours, May 2021, customised report.

5. Median age of all workers

This shows the median age of all workers in this occupation.

Source: ABS, Labour Force Survey, 2022, four-quarter average data, customised report.

6. Part-time workers

This is the proportion of people employed in an occupation who work part-time (those who usually work less than 35 hours per week).

Data for occupations with less than 50 people employed have been suppressed to protect confidentiality and prevent identification of individuals.

Source: ABS, Labour Force Survey, 2022, 4-quarter average data, customised report.

7. Qualifications in this workforce

This is the distribution of employment by highest qualification completed (in any field of study).

Data for occupations with less than 50 people employed has been suppressed to protect confidentiality and prevent identification of individuals.

The sum of educational attainment percentages may not equal 100% as "Not stated", "Not applicable", "Inadequately described" and "No educational attainment" responses have been excluded.

Source: ABS, 2021 Census of Population and Housing based on place of usual residence.