Bendigo Job Market Tightens as Local Economy Sinks to Pandemic-Era Low

Bendigo's economy has retreated to its lowest point since the pandemic began, with output falling $28 million to $1.16 billion and 413 business jobs lost in July, according to data reported by the Bendigo Advertiser. The downturn marks a sharp reversal for Victoria's third-largest economy, which has now shed 9.1% of total output and 6% of jobs since March, despite government support packages.

Employment Sectors Under Pressure

The Bendigo Employment Region had approximately 82,000 employed people as of August 2025, with Health Care, Retail Trade, Construction, Manufacturing, and Education being the top sectors. The loss of 413 business jobs in July suggests that these core industries are feeling the weight of the broader economic contraction. The Greater Bendigo economy, with a Gross Regional Product of $9.89 billion, is now navigating conditions not seen since the depths of the COVID-19 pandemic.

Government and Industry Response

Victoria's Skills Plan for the Bendigo, Echuca and surrounds region outlines future job growth expectations, particularly in sectors requiring upskilling. The state government's analysis of future job growth in the area points to opportunities in health care and social assistance, construction, and education and training. Meanwhile, nbn’s local business index has projected a boom in Bendigo's local business sector, suggesting that digital connectivity may offer a pathway for small and medium enterprises to offset some of the current drag.

Economic updates from Bendigo Bank's June and May reports provide further context on the region's financial health, though specific figures from those updates were not detailed in the available material. The City of Greater Bendigo's most recent annual report, covering 2022-2023, offers a baseline for the municipality's financial and service performance before the current downturn.

What This Means for Job Seekers and Employers

For local job seekers, the immediate outlook is cautious. The combination of output contraction and job losses suggests that employers in Bendigo's key sectors may slow hiring or restructure roles. Workers in retail trade and construction, two of the largest employment areas, could face the most direct impact. However, the state's skills planning framework and nbn's projected business boom indicate that medium-term opportunities remain, particularly for those with training in health care, education, and digital skills.

Employers, in turn, may need to lean on government support packages and invest in staff retention and upskilling to weather the downturn. The local economic development office and business advocacy groups are likely to play a central role in coordinating recovery efforts. For now, Bendigo's business community is watching closely, with the next wave of economic data expected to show whether July's low marks a floor or the beginning of a deeper cycle.

This article is general information only and is not personal financial or investment advice. Consider your own circumstances and seek licensed professional advice before making financial decisions.