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Migration flows shift Australian economy

Net interstate migration

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Source: Australian Bureau of Statistics

The human face of the end of the mining investment boom. 

Australian migration is shifting away from the resource intensive states for the first time in more than a decade, according to new data from the Australian Bureau of Statistics and ANZ Research. 

While Western Australia still has the quickest population growth of any state or territory, it is the rate of growth that is declining. 

The ABS and ANZ data reveals both net overseas and net interstate migration in the past year has slowed in both resource states of Queensland and Western Australia. ANZ believes this could be due to lower employment prospects in those states, representing the broader rebalancing occurring within the Australian economy. 

Both Victoria and NSW have enjoyed increases in population growth rates due to greater demand for jobs in the service and education sectors. New South Wales’ share of total net overseas migration increased to over 30 per cent in 2013 and Victoria’s interstate migration is at its highest level in 30 years. Overall, these population flows provide further evidence of a tentative rebalancing in the Australian economy.

This research was adapted from ANZ Live.

The views and opinions expressed in this communication are those of the author and may not necessarily state or reflect those of ANZ.

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