The rate at which Australians are completing vocational education and training (VET) has increased by nearly six per cent, new data from the independent National Centre for Vocational Education Research (NCVER) shows.
The VET qualification completion rates 2023 report shows that 47.3 per cent of all VET qualifications were completed by the end of 2023 – up from 41.4 per cent in 2019.
Minister for Skills & Training, Andrew Giles, said the government is making record investments in the VET sector with more than 508,800 places filled through the Fee-Free TAFE program.
This is in addition to the first National Skills Agreement in a decade - which will deliver $30 billion in co-investment with states and territories over five years. That’s on top of $1.5 billion to support Fee-Free TAFE.
“Fee-Free TAFE is such a game changing policy - it’s providing cost-of-living relief while growing the economy. It’s giving Australians the confidence to take on study without the extra pressure that paying for courses can bring,” he said.
Nine out of 10 new jobs created over the next decade will require tertiary-level education, with better alignment between universities and TAFEs needed urgently, according to Jobs and Skills Australia.
The federal government has set a goal of 80 per cent of the working age Australian population to have tertiary-level skills by 2050.
Within the next decade, the proportion of new jobs needing tertiary education qualifications is set to increase from 70 to 90 per cent, the JSA said.