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Economist links education and prosperity
The Sunshine Coast’s potential for prosperity relies largely on developing a highly-skilled workforce, including young migrants, according to a leading economic consultant.
“The surest way to succeed is to recognise the central role of skills – and hence education – as a key driver of longer-term prosperity,” said Chris Richardson, director of Access Economics’ Macroeconomic Group based in Canberra.
“Lifting skill levels makes workers more productive and the higher incomes they earn encourage them to work for longer.
“In contrast, pursuing population growth for its own end misses the point, as bigger is not necessarily better. Migration brings potential advantages from the quality of new residents – higher skills and younger age profile.”
Mr Richardson will provide his analysis of regional challenges and opportunities when he gives the keynote address at the ‘What Works’ conference at Sippy Downs on Friday 12 November.
The inaugural conference, jointly organised by the University of the Sunshine Coast and the Sunshine Coast Council, will be held at USC’s Innovation Centre from 8am to 5.30pm.
It will bring together regional stakeholders, academics and professionals to discuss how to support a sustainable economic future for the Coast.
Mr Richardson said education was an under-appreciated national asset.
“Research shows that each extra year of education adds 8 percent to incomes,” he said. “The Sunshine Coast, with its strong education sector, has the potential to benefit more than most.”
Mr Richardson’s address will examine Treasury’s “prosperity equation”, linking sustainable prosperity and jobs growth with research, education and training.
He said the conference was a good way of linking the education sector with government and business.
“The level of engagement between universities and ‘the big end of town’ has been an Australia-wide problem for many years,” he said.
“Universities generate skilled workers, whereas businesses need them. So there is an important need for better communication between the two.”
Conference organiser and USC’s Pro Vice-Chancellor for Regional Engagement Professor Mike Hefferan said the interactive conference would showcase innovative strategies used to promote economic and jobs growth across the country.
It will be the first of a planned annual conference series called “Sunshine Coast Futures”.
“There will be a lot of opportunities for people to give input, to discuss and see distilled the matters which have been agreed upon and discussed on the day.”
Register online for the conference via the University’s website at <www.usc.edu.au>.
– Julie Gatehouse