Cardinia ShireEconomic profile
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Cardinia Shire

Local workers - Age structure - Financial and Insurance Services

In Cardinia Shire, 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 Cardinia Shire. 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.

For a complete local workers analysis for Cardinia Shire, Age Structure should be viewed in conjunction with Income and Hours worked.

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, Cardinia Shire 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
Cardinia Shire - Financial and Insurance Services20162011Change
Ten year age groups (years)Number%Victoria %Number%Victoria %2011 to 2016
15 to 24 years216.56.2114.78.5+10
25 to 34 years6720.730.04418.832.0+23
35 to 44 years7723.829.57331.228.7+4
45 to 54 years9128.221.37632.519.0+15
55 to 64 years5015.510.3239.89.6+27
65 years and over175.32.773.02.0+10

Source: Australian Bureau of Statistics, Census of Population and Housing 2011 and 2016. Compiled and presented by .id , the population experts.

Local workers age structure, 2016
Local workers age structure, 2016 15 to 24 years, Victoria: 6.2% 25 to 34 years, Victoria: 30.0% 35 to 44 years, Victoria: 29.5% 45 to 54 years, Victoria: 21.3% 55 to 64 years, Victoria: 10.3% 65 years and over, Victoria: 2.7% 15 to 24 years, Cardinia Shire: 6.5% 25 to 34 years, Cardinia Shire: 20.7% 35 to 44 years, Cardinia Shire: 23.8% 45 to 54 years, Cardinia Shire: 28.2% 55 to 64 years, Cardinia Shire: 15.5% 65 years and over, Cardinia Shire: 5.3%
Source: Australian Bureau of Statistics, Census of Population and Housing, 2016
Compiled and presented in economy.id by .id, the population experts.
Change in local workers age structure, 2011 to 2016
Change in local workers age structure, 2011 to 2016 15 to 24 years, Cardinia Shire - Financial and Insurance Services: +10 25 to 34 years, Cardinia Shire - Financial and Insurance Services: +23 35 to 44 years, Cardinia Shire - Financial and Insurance Services: +4 45 to 54 years, Cardinia Shire - Financial and Insurance Services: +15 55 to 64 years, Cardinia Shire - Financial and Insurance Services: +27 65 years and over, Cardinia Shire - Financial and Insurance Services: +10
Source: Australian Bureau of Statistics, Census of Population and Housing, 2011 and 2016
Compiled and presented in economy.id by .id, the population experts.

Dominant groups

Analysis of the age structure of the Financial and Insurance Services workforce in Cardinia Shire in 2016 compared to Victoria 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, 51.1% of the Financial and Insurance Services workforce was aged under 45 years, compared to 65.7% for Victoria. 48.9% were aged 45 years and over, compared to 34.3% for Victoria.

The major differences between the age structure of the Financial and Insurance Services workforce in Cardinia Shire and Victoria were:

  • A larger percentage of local workers aged 45 to 54 years (28.2% compared to 21.3%)
  • A larger percentage of local workers aged 55 to 64 years (15.5% compared to 10.3%)
  • A smaller percentage of local workers aged 25 to 34 years (20.7% compared to 30.0%)
  • A smaller percentage of local workers aged 35 to 44 years (23.8% compared to 29.5%)

Emerging groups

The largest changes in the age structure of the Financial and Insurance Services workforce in Cardinia Shire between 2011 and 2016 were:

  • 55 to 64 years (+27 local workers)
  • 25 to 34 years (+23 local workers)
  • 45 to 54 years (+15 local workers)
  • 15 to 24 years (+10 local workers)

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