Australia’s Future is in STEM

A recent report by PriceWaterhouseCooper predicted that 44% (5.1 million) of the jobs that exist in Australia today are at risk of ‘digital disruption’ by 2035. PwC predicts that computerisation and technology will not only create new jobs in the next 20 years but will ultimately supersede much of the existing workforce as well.

In order to realise our full potential, Australia needs an appropriately skilled workforce; a workforce fit for the future. PwC has concluded that expanding our STEM industries (Science, Technology, Engineering and Mathematics) would maximise economic outcomes for Australia in the next few decades.

The Australian economy has benefited greatly from economic reforms and from increasing demand for natural resources, mostly from China, which drove most of Australia’s growth in the early 2000s. At the same time, the PwC report says, economic growth from productivity has halved and Australia needs to develop a strong STEM foundation to guarantee economic growth after the current commodity boom has finished.

Download the full PDF report from PwC here.

Jobs most at risk from computerisation by 2035

STEM jobs being automated PwC 2015
Accountants and cashiers are most likely to become automated

Jobs least at risk of automation by 2035

STEM jobs not being automated PwC 2015
Health, education, advertising and IT are least likely to become automated

While it’s important to choose a future-proof career in one of the fields above, the benefits of doing so extend far beyond the individual level. PwC has predicted that Australia could gain a $57 billion economic boost between 2015 and 2035 if it switched just 1% of its workforce into STEM occupations. Australia’s prosperity in the next few decades appears to be highly dependent on our nation’s commitment to STEM.

Conclusion: schools and STEM businesses need to do more outreach

“Business also has the opportunity to better connect with students. This can be done by profiling emerging STEM careers, talking about workforce needs, offering workforce and internship experiences and breaking down the stereotypes and barriers that still remain today. It’s not new, but scope exists for a much more coordinated approach to engaging with the potential STEM workforce.”

Download the full PDF report from PwC here.

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