In brief

• An Albanese Labor Government will set a goal of 1.2 million tech-related jobs by 2030.
  
  
• Labor will work with industry towards an additional 340,000 additional tech-related jobs and help more Australians to get the skills needed to secure well paid work in this growing industry.
  
  
• Labor’s plan for tech-related jobs is backed in by existing commitments for fee-free TAFE, an additional 20,000 university places and a Startup Year program to help new businesses get off the ground.
  
  

Australia’s tech sector is important to our economy, currently contributing about $167 billion annually and accounting for 8.5 per cent of GDP.

Labor will back the tech sector to reach its potential to contribute $250 billion to GDP and another 340,000 jobs by the end of the decade.

Why do we need this?

The Australian tech industry has experienced enormous growth in the past decade, creating around 100 tech companies valued at over $100 million. There are significant opportunities for more Australians to get well paid work in this growing sector, and to support the growth of Australian industry.

The boom in tech-related jobs means that one in 16 Australians already work in the sector, but ICT professional job vacancies have increased by 34 per cent on pre-COVID figures. Tech Council of Australia research shows a strong demand for tech-related skills, with vacancy rates 60 per cent more than the Australian average. Despite this enormous jobs and business opportunity, the Morrison Government has failed to support locals to get the skills needed for these new jobs.  

There are tech related jobs in both traditional and emerging sectors, ranging from software developers and data scientists to marketers and HR managers. There are opportunities for people with both TAFE and university qualifications and the income people earn is similar regardless of their pathway into the sector.

Labor’s plan

An Albanese Labor Government will grow the tech industry – with a goal of 1.2 million tech-related jobs by 2030.

Working with industry, Labor‘s plan will deliver much needed skills to strengthen Australian businesses and provide new opportunities for workers. Labor’s target includes both direct tech sector jobs, and indirect tech-related jobs in other industries.

Labor will support more tech jobs through our plans for:

• 465,000 fee-free TAFE places and an extra 20,000 university places focusing on high priority areas such as tech.
• Establish Jobs and Skills Australia to get ahead of the skills curve and plan for the future workforce needs of the nation.
• Strengthen our sovereign capability through smarter government procurement and the establishment of the National Reconstruction Fund to support growing businesses.
• Support the creation of new firms and jobs through Startup Year, by offering 2,000 Commonwealth supported places at accredited university accelerators. This investment will support aspiring entrepreneurs to commercialise their ideas and scale up.
• Support the creation of new firms and strengthen existing ones by leveraging Commonwealth spending under Labor’s Buy Australian Plan.