Local workers - Age structure - Financial and Insurance Services
In Cairns, there are more younger workers (15 to 44 years) than older workers (45 year and over) in the Financial and Insurance Services local worker population.
The Age Structure of an industry's local workers is a key component to understanding the role and function of that industry in Cairns. It is an indicator of the age of the industry and how long it has been established in the area, as well as the possible challenges in expanding that industry in the future.
For example an area with young local workers may be more mobile and likely to change jobs/industries in the future while an industry with an older local workers may face succession planning issues and challenges in attracting new staff.
Australian Bureau of Statistics (ABS) – Census 2011 (experimental imputed) & 2016 – by place of work
Please note – The 2016 Census used a new methodology to “impute” a work location to people who didn’t state their workplace address. As a result, 2016 and 2011 place of work data are not normally comparable. To allow comparison between 2011 and 2016, .id has sourced a 2011 dataset from the ABS which was experimentally imputed using the same methodology. To provide this detail, Cairns in 2011 had to be constructed from a best fit of Work Destination Zones (DZNs). While it may not be an exact match to the LGA or region boundary, it is considered close enough to allow some comparison. Users should treat this time series data with caution, however, and not compare directly with 2011 data from any other source.
|Local workers age structure|
|Cairns - Financial and Insurance Services||2016||2011||Change|
|Ten year age groups (years)||Number||%||Professional, Scientific and Technical Services %||Number||%||Professional, Scientific and Technical Services %||2011 to 2016|
|15 to 24 years||78||7.3||8.7||117||9.9||9.0||-39||31001||10||▼|
|25 to 34 years||236||22.1||21.7||269||22.9||22.3||-33||31002||10||▼|
|35 to 44 years||268||25.1||25.5||339||28.8||26.5||-71||31003||10||▼|
|45 to 54 years||274||25.7||21.9||261||22.2||22.9||+13||31004||10||▲|
|55 to 64 years||169||15.8||15.8||165||14.0||15.2||+4||31005||10||▲|
|65 years and over||43||4.0||6.4||26||2.2||4.2||+17||31006||10||▲|
Source: Australian Bureau of Statistics, Census of Population and Housing (opens a new window) 2011 and 2016. Compiled and presented by .id (opens a new window), the population experts.
Analysis of the age structure of the Financial and Insurance Services workforce in Cairns in 2016 compared to the Professional, Scientific and Technical Services workforce within Cairns shows that there was a lower proportion of people in the younger age groups (15 to 44 years) and a higher proportion of people in the older age groups (45 years and over).
Overall, 54.5% of the Financial and Insurance Services workforce was aged under 45 years, compared to 55.9% for the Professional, Scientific and Technical Services workforce within Cairns. 45.5% were aged 45 years and over, compared to 44.1% for the Professional, Scientific and Technical Services workforce within Cairns.
The major differences between the age structure of the Financial and Insurance Services workforce in Cairns and the Professional, Scientific and Technical Services workforce were:
- A larger percentage of local workers aged 45 to 54 years (25.7% compared to 21.9%)
- A larger percentage of local workers aged 25 to 34 years (22.1% compared to 21.7%)
- A smaller percentage of local workers aged 65 years and over (4.0% compared to 6.4%)
- A smaller percentage of local workers aged 15 to 24 years (7.3% compared to 8.7%)
The largest changes in the age structure of the Financial and Insurance Services workforce in Cairns between 2011 and 2016 were:
- 35 to 44 years (-71 local workers)
- 15 to 24 years (-39 local workers)
- 25 to 34 years (-33 local workers)
- 65 years and over (+17 local workers)