Have you ever stopped to think about how far Australia has come since 1966?That was the year we ditched pounds and pence for dollars and cents… but that’s just the start.Back then, we were a country of just over 11 million people, mostly of Anglo-Celtic heritage, with an economy built on factories, farming, and following Britain’s lead. Fast forward almost 60 years, and we’ve become one of the most diverse, service-based, urbanised economies in the world — and one of the wealthiest too.But how did we get here? Was it luck? Policy? Population? Or just being in the right place at the right time?
In this episode of the Demographics Decoded Podcast we explore the evolution of Australia's demographics over the past six decades, focusing on unemployment trends, the impact of global events, and the role of technology and immigration in shaping the workforce.
We discuss the resilience of the Australian economy, particularly during crises like the Global Financial Crisis and COVID-19, and make predictions about future employment trends and economic stability.
Takeaways
- Australia has undergone significant demographic changes since 1966.
- Unemployment rates have fluctuated due to various global events.
- The mining sector has been crucial for Australia's economic resilience.
- Technological advancements have reshaped the job market.
- Women entering the workforce has boosted household spending.
- The 1990s saw a recovery from recession and rising optimism.
- COVID-19 led to innovative economic safeguards to prevent mass unemployment.
- Demographic shifts will continue to influence the workforce.
- Immigration plays a vital role in addressing labor shortages.
- Future unemployment rates are expected to remain low.
Chapters
00:00 Australia's Transformation Since 1966
02:51 Unemployment Trends and Economic Shifts
05:16 The Impact of Global Events on Employment
08:05 Demographic Changes and Workforce Dynamics
10:39 The Role of Mining and Agriculture in Australia's Economy
13:05 The 1990s Recession and Recovery
15:54 The Global Financial Crisis and Its Aftermath
18:36 COVID-19's Impact on Employment
21:06 Future Employment Trends and Demographics
24:01 The Role of Immigration and Gender in Workforce Changes
28:07 Looking Ahead: Australia's Economic Future
33:32 The Importance of Demographic Awareness
33:51 Understanding Market Trends
Links and Resources:
Join Simon Kuestenmacher and Michael Yardney at Wealth Retreat 2025 –Australia’s Premier Wealth Retreat for Elite Investors and Business People – learn more here.
About Simon Kuestenmacher
Simon Kuestenmacher is co-founder and Director – The Demographics Group
Simon is a prolific media commentator on demographic and data matters and a columnist for The New Daily and The Australian newspapers.
He ranks as one of the world’s Top 10 influencers in data visualisation. If you can’t get enough of the kind of data that explains how the world works, make sure to follow Simon on Linked In or X (formerly Twitter) or any of his other social channels.
Click here for a media enquiry or if you would like to book Simon Kuestenmacher for a speaking engagement. His presentations and quirky observations are enjoyed by audiences from the financial services, property, government, education, technology, retail and professional services industries, among others.
About Michael Yardney
Michael Yardney- founder Metropole Property Strategists has been voted one of Australia’s 50 most influential Thought Leaders.
While he is best known as a property expert, Michael is also Australia’s leading expert in the psychology of success and wealth creation.
Michael is a #1 best selling author of 9 books and frequently challenges traditional finance advice with innovative ideas on property investment, personal finance and wealth creation.
Follow Michael on Linked In or Instagram
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