The city has had the highest growth across all three major economic indicators of Gross Regional Product (GRP) jobs and employed residents compared to similar regions and cities across Australia. Greater Geelong has an estimated GRP of $15.4 billion 120 000 local jobs and 19 600 businesses.

Local labour market conditions are strong with unemployment at historic lows of 2.5 percent 1.7 points lower than the Victorian rate and 1.9 points lower than Australia.  Youth unemployment is 6.3 percent 4.1 points lower than Victoria.  Job advertisements and demand for labour are at record highs with 10 550 new jobs advertised in the June 2022 quarter.

The industries that provide the most jobs in Greater Geelong are:

• healthcare and social assistance
• retail trade
• construction
• education and training
• public administration and safety and
• manufacturing.

The citys local job market is primarily focused on the provision of household services such as health retail and education. In 2020-2021 41 percent of local employment was in these three industries. 

Construction is the third largest employer with an 11 percent share of employment driven by strong residential development and infrastructure investment.

Public administration and safety and manufacturing are fifth and sixth largest with both sectors having an 8 per cent job share.  The manufacturing sectors contribution to economic value is forecast to increase as the sector goes through a transition into higher-value industries and becomes more productive.  

Sectors driving growth in Greater Geelong include advanced manufacturing clean technologies and circular economy research and innovation service-based industries creative industries and the visitor economy.

Trade through the Geelong Port Victorias premier bulk port also continues to be strong with $7 billion of trade 12 million tonnes of product and 600 vessels passing through the port and supporting 1 800 regional jobs annually.

Avalon Airport delivers both domestic and international passenger and freight services as well as being home to the Australian International Airshow.

Investment in the region continues to grow with $14.5 billion in major construction and redevelopment recently completed underway or planned.

For more about business and investment view our business and investment page.