Bendigo’s Labour Market: Emerging Opportunities and Beneficiaries of a Growing Workforce

As of August 2024, the Bendigo Employment Region supported approximately 78,400 employed residents, with the Health Care and Social Assistance sector leading the charge at 18,200 workers-marking a significant increase of 20.1% over the previous year, according to the Labour Market Dashboard for Bendigo [2].

This notable growth in health care employment underscores the shifting fabric of Bendigo’s local economy as it adapts to demographic changes and evolving industry needs. At the same time, some traditional employment pillars like manufacturing and retail trade have contracted by 6.5% and 19.7%, respectively, reflecting structural economic shifts that challenge workers and policy-makers alike [2].

Why Bendigo’s Employment Landscape Matters Now

Bendigo’s population growth and an ageing workforce have combined to create substantial demand for skilled workers, particularly in health care, community services, visitor economy, and food production sectors [4][5]. These dynamics are accelerating the need for new job creation; projections anticipate 11,655 additional workers will be required by 2027, swelling to 44,124 by 2034 [4][5]. This growth is driven largely by retirements within the workforce alongside the expansion of hospitality and tourism, sectors which increasingly shape Bendigo's economic future.

The unemployment rate also provides critical context. While the overall Bendigo region had an unemployment rate of 4.5% in January 2022, disparities exist across the area-ranging from a low 2.9% in Macedon Ranges to a high 5.6% in Loddon Shire [4]. These variations highlight differing local economic health and labour market tightness within the broader region.

Who Is Benefiting and What This Means for Bendigo

Bendigo’s largest employer, the Health Care and Social Assistance sector, not only expanded its workforce but also accounted for approximately 19.7% of total regional employment as of August 2024 [2][4]. This sector’s growth is providing opportunities for workers drawn by strong demand for skilled positions catering to an ageing population.

Conversely, the manufacturing and retail trade sectors have seen employment declines-by 6.5% and 19.7%, respectively, within the same period-indicating shifts away from certain traditional industries and underscoring the need for workers to transition to emerging fields or new skill sets [2]. Despite these declines, manufacturing and retail, along with construction and education, still represent significant portions of Bendigo’s job market, collectively accounting for 60% of employment in the region [2].

Additionally, as the tourism and hospitality sectors grow, small businesses in the area stand to benefit from the influx of visitors and local demand, potentially offsetting job losses in other sectors. While the verified data does not identify specific enterprises, these trends suggest opportunities for entrepreneurs and service providers to tap into expanding markets.

Evidence from official projections underscores the scale of labour market transformation: Bendigo anticipates the need to absorb over 11,600 new workers by 2027, with that figure ballooning to more than 44,000 by 2034 [4][5]. This significant increase demands focused workforce development and training initiatives to sustain and manage growth.

Local authorities and stakeholders will need to prioritise attracting and training skilled personnel to fill roles in health care, hospitality, and community services. Planning to meet these workforce demands is critical to maintaining Bendigo’s economic vitality and meeting the expectations of a growing population. For current and prospective workers, targeting growth industries and gaining requisite skills presents the clearest path to job security.

Looking ahead, workers and employers alike should monitor sectoral trends and invest in relevant training and development opportunities. While some industries contract, the broad picture signals a region on the move, presenting avenues for career growth and business innovation. Continued monitoring of unemployment rates across Bendigo’s subregions will be essential to address uneven economic outcomes and ensure inclusive growth.