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Property as the largest employer in Australia

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The property industry now provides more blue collar trades and high finance jobs than any other industry in Australia. According to a report by AEC Group, the property sector employs over 1.4 million people, taking over social assistance and health care as the largest employers in the country.

From 2013 to 2016, the number of jobs in the property industry rose by 22%, contributing $202.9 billion to GDP in 2015-16 – an increase of $20.4 billion from 2013-14. This has extended its lead as the biggest GDP contributor in Australia.

The property industry also contributes $87.9 billion every year to state, territory and local government tax revenues. The research shows the importance of the property industry in the overall economy as the country’s biggest supporter of communities and creator or new jobs. More than one in four wages rely on the property industry – a huge contribution to family and individual livelihoods across the nation. These are high finance, skilled trades, white and blue collar jobs from construction to managers of the most sophisticated commercial properties.

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Related:  Chan & Naylor gets its ATO Product Ruling renewed for its Property Investor Trust (PIT®) Deed

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