One of the four pillars in the Regional Investment Framework (RIF) is Investing in People. Within the definitions provided by the RIF the education, availability and accessibility of people is captured. This project will be one of the 2023-2024 lead projects to assist RDAMNC and our stakeholders understand the labour market features properly. RDAMNC has commissioned the Regional Australia Institute to understand the real figures associated with labour participation in the Mid North Coast.
The participation rate for the Mid North Coast is the worst in NSW. In May 2023 it was 47.1%. The rest of NSW was 66%. This is an indication of a structural difference in the MNC labour market that needs to be investigated. This project will enable us to do the following:
- Control for retirement aged persons
- Assess the state, regions and local government areas with a Working Aged Population calculation which will establish if there is a more complex challenge afoot for the region
- Allow for a demographic analysis of the challenges we face by aged and life stage.
It is expected that this project will be completed late 2023 / early 2024.