.id’s economic analysis of Parramatta’s key workers highlights the relationship between housing affordability and economic growth.
The productivity of a place is adversely affected when housing is no longer affordable for the key workers* that enable the local economy to function.
Business Challenge
How important are key workers to the local economy? How many key workers currently work in Parramatta and how much are they forecast to grow? What is the demographic profile of key workers? Are key workers facing housing affordability pressure?
The .id Solution
.id developed a methodology to assess key worker issues and future demand in the Parramatta City. The report analyses the importance of key workers to the economy and identifies key drivers of future growth. Key Worker Profiles are also provided alongside a Rental Affordability Analysis to help understand the nature of this growth, particularly in terms of housing needs. We prepared Employment Forecast Scenarios to estimate key worker employment growth over the next 20 years.
Outcomes – Data Driven Success
.id found that key workers play a valuable economic and social role in the Parramatta economy. In 2014 there were an estimated 17,360 key workers in the City of Parramatta. This represents 14.6% of all workers and 97 key workers for every 1,000 people in Parramatta. As a group, there are as many key workers as there are people employed in the Public Administration and Safety Industry which is Parramatta’s second largest industry. The economic role of key workers is set to become even more important over the next 15 years. This will be due to strong forecast population growth, a younger demographic, and robust employment growth driven by service sector industries.
This report provides important context for the development of future housing and economic development strategies in the City of Parramatta. These observations point to the conclusion that sustainable economic growth needs to be underpinned by an urban renewal plan to grow housing stock.
*We defined key workers as school teachers; midwifery and nursing professionals; defence force members, fire fighters and police; health and welfare support workers; hospitality workers; child carers; cleaners and laundry workers; and automobile, bus and rail drivers.
Learn more about .id's key worker housing affordability analysis →
