Highly skilled workforce

Domain: 
Dynamic, resilient local economies
Sub-Domain: 
Economic Activity
Measure: 
Percentage of highly skilled workers in the labour force
Rationale: 
1

“The quantum and types of skills available within an area will delineate its capacity to support particular industries and consequently its outlook for economic growth. Areas where the requisite skills base and knowledge capacity are in place are more likely to attract particular industries, which will lead to more dynamic economic outcomes. 

A knowledge-based economy is synonymous with an information society. It is defined as an economy 'directly based on the production, distribution and use of knowledge and information' (ABS 2002). Successful modern economies are more knowledge-intensive than ever as jobs for process and manufacturing workers become automated (ABS, 2002). Although high-tech industries are traditionally associated with knowledge economies, all industries can be knowledge intensive, including extractive industries and agricultural products” (CIV, 2006).

Data Source: 
Office of Economic and Statistical Research, 2012
References: 
Community Indicators Victoria (CIV) (2007) Metadata, Retrieved from http://www.communityindicators.net.au/indicator_metadata


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