Bendigo Economy Snapshot: The Path From Manufacturing Output to Service Employment

Greater Bendigo recorded a Gross Regional Product of $10.5 billion in 2024, placing it as Victoria's third-largest regional economy. The figure reflects the cumulative result of employment shifts and output changes that began accelerating after 2020.

Industry Output and Workforce Size

Manufacturing continued to supply the single largest contribution to total output at $3.1 billion or 18.3 percent even as the region moved toward services. The local economy supported around 82,000 jobs as of August 2025, with Health Care and Social Assistance, Retail Trade and Construction listed as the top three employing sectors.

How the Shift Developed

Health Care and Social Assistance employed 15,500 workers in August 2025 after a 14.9 percent decline over the prior year. Retail Trade employment rose 32.9 percent and Construction employment rose 9.3 percent over the same period. These movements occurred alongside a steady 2.3 percent increase in local micro-businesses recorded over the preceding two years and a total business count of 8,165.

The unemployment rate stood at 3.4 to 3.5 percent in late 2023. Population growth averaged 1.7 percent annually during the same timeframe, supporting demand for additional workers projected at 11,655 by 2027.

Employment and Output Patterns

The data show Health Care and Social Assistance remaining the largest employer despite the recorded drop, while Retail Trade and Construction posted the strongest employment gains. Manufacturing output share stayed above other individual sectors even as the overall economy added service-based activity.

Future workforce needs will continue to reflect the existing pattern of service sector growth alongside retained manufacturing output. Local businesses and training providers can align offerings with the documented employment increases in retail and construction and the sustained health sector scale.