Based on the data, the employment in the Road Passenger Transport sector in Australia has shown a generally positive trend from 2013 to 2023. For instance, employment rose from 20.6 thousand employees in 2013 to 27.39 thousand in 2023. The variations in year-on-year growth have fluctuated, with significant increases in certain years, such as 2017 (5.56%) and notable dips, as in 2019 (-5.77%).
From 2024 onwards, the data presents forecasted values showing a continued upward trend with a Compound Annual Growth Rate (CAGR) of 1.66% over the next five years. This indicates moderate and steady growth, anticipating an increase to 30.42 thousand employees by 2028.
Points to consider:
- Employment will grow at a projected average annual rate of 1.66% from 2024 to 2028.
- Forecasted growth rate over five years stands at 8.59%.
- Anticipated increase in 2028 is up to 30.42 thousand employees.
Future trends to watch for include technological advancements in transport solutions, government policies influencing sector employment, and economic factors affecting demand. These elements could significantly impact the projected employment growth in the Road Passenger Transport sector.
