Editing Canberra (section)

==Economy==
[[File:220 London Circuit May 2021.jpg|thumb|Just under a third of Canberrans are employed in the public sector, working in government departments such as the [[Government of the Australian Capital Territory|ACT Government]]]]
In February 2020, the unemployment rate in Canberra was 2.9% which was lower than the national unemployment rate of 5.1%.<ref>{{cite web |url=https://apps.treasury.act.gov.au/__data/assets/pdf_file/0005/399983/LF.pdf/_recache |publisher=ACT Government |title=CMTED Brief |access-date=29 March 2020 |archive-date=24 February 2022 |archive-url=https://web.archive.org/web/20220224173654/https://www.treasury.act.gov.au/__data/assets/pdf_file/0005/399983/LF.pdf/_recache |url-status=live}}</ref> As a result of low unemployment and substantial levels of public sector and commercial employment, Canberra has the highest average level of [[disposable income]] of any Australian capital city.<ref>{{cite web |publisher=[[Australian Bureau of Statistics]] |url=http://www.abs.gov.au/AUSSTATS/abs@.nsf/Previousproducts/D1427AE6A791C71CCA2570D700081161?opendocument |title=ACT Stats, 2005 |date=12 September 2005 |access-date=13 May 2010 |archive-date=9 June 2010 |archive-url=https://web.archive.org/web/20100609122032/http://www.abs.gov.au/AUSSTATS/abs@.nsf/Previousproducts/D1427AE6A791C71CCA2570D700081161?opendocument |url-status=live}}</ref> The gross average weekly wage in Canberra is [[Australian dollar|$]]1827 compared with the national average of $1658 (November 2019).<ref name="CMTED Brief">{{cite web |url=https://apps.treasury.act.gov.au/__data/assets/pdf_file/0012/399990/SUM.pdf/_recache |publisher=ACT Government |title=CMTED Brief |access-date=29 March 2020 |archive-date=12 March 2020 |archive-url=https://web.archive.org/web/20200312155946/https://apps.treasury.act.gov.au/__data/assets/pdf_file/0012/399990/SUM.pdf/_recache |url-status=live}}</ref>
[[File:50 Marcus Clarke Street Feb 2016.jpg|left|thumb|The [[Civic, Australian Capital Territory|Civic]] is home to various administrative departments, such as the [[Department of Education, Skills and Employment]]]]
The median house price in Canberra as of February 2020 was $745,000, lower than only Sydney among capital cities of more than 100,000 people, having surpassed Melbourne and Perth since 2005.<ref name="CMTED Brief" /><ref>{{cite news |url=http://www.abc.net.au/news/stories/2009/10/29/2727042.htm |title=House prices surge as rate hike looms |publisher=Australian Broadcasting Corporation |access-date=13 May 2010 |last=Janda |first=Michael |newspaper=ABC News |date=29 October 2009 |archive-date=4 August 2010 |archive-url=https://web.archive.org/web/20100804011602/http://www.abc.net.au/news/stories/2009/10/29/2727042.htm |url-status=dead}}</ref><ref>{{cite web |publisher=Real Estate Institute of Australia |url=http://www.reiaustralia.com.au/media/releases.asp |title=It's official: the property market has cooled |date=9 September 2010 |access-date=7 June 2010 |archive-url=https://web.archive.org/web/20080719140035/http://reiaustralia.com.au/media/releases.asp |archive-date=19 July 2008}}</ref> The median weekly rent paid by Canberra residents is higher than rents in all other states and territories.<ref>{{cite web |publisher=[[Australian Bureau of Statistics]] |year=2004 |title=Census of Population and Housing Australia in Profile A Regional Analysis |url=http://www.abs.gov.au/ausstats/abs@.nsf/ca79f63026ec2e9cca256886001514d7/18a06e9e1296fb71ca2568a900143a6b!OpenDocument |access-date=13 May 2010 |archive-date=2 April 2011 |archive-url=https://web.archive.org/web/20110402220641/http://www.abs.gov.au/ausstats/abs@.nsf/ca79f63026ec2e9cca256886001514d7/18a06e9e1296fb71ca2568a900143a6b!OpenDocument |url-status=live}}</ref> As of January 2014 the median unit rent in Canberra was $410 per week and median housing rent was $460, making the city the third most expensive in the country.<ref>{{cite news |url=http://www.canberratimes.com.au/act-news/act-still-expensive-place-to-live-despite-fall-in-rent-prices-20140115-30vk8.html |date=16 January 2014 |archive-date=8 March 2014 |archive-url=https://web.archive.org/web/20140308020955/http://www.canberratimes.com.au/act-news/act-still-expensive-place-to-live-despite-fall-in-rent-prices-20140115-30vk8.html |publisher=Fairfax Media |newspaper=The Canberra Times |first=Meredith |last=Clisby |title=ACT still expensive place to live despite fall in rent prices}}</ref> Factors contributing to this higher weekly rental market include; higher average weekly incomes, restricted land supply,<ref>All of the land in the ACT land is held by the government.</ref> and inflationary clauses in the ACT Residential Tenancies Act.<ref>s68 allows for an annual increase linked to a Rental Housing CPI index, which is usually significantly higher than CPI. For 2008 this deems an increase up to 10.12% as not excessive on the face of it.</ref>
[[File:Bunda Street July 2021.jpg|left|thumb|[[Bunda Street]] in Canberra's shopping district; tourism, retail and hospitality are also major employers.]]
The city's main industry is public administration and safety, which accounted for 27.1% of Gross Territory Product in 2018-19 and employed 32.49% of Canberra's workforce.<ref>{{cite web |url=https://apps.treasury.act.gov.au/__data/assets/pdf_file/0010/399979/GSP.pdf/_recache |publisher=ACT Government |title=CMTED Brief |access-date=29 March 2020 |archive-date=12 March 2020 |archive-url=https://web.archive.org/web/20200312155536/https://apps.treasury.act.gov.au/__data/assets/pdf_file/0010/399979/GSP.pdf/_recache |url-status=live}}</ref><ref name="EDA ACT Economic Indicators">{{cite web |url=https://app.remplan.com.au/eda-australiancapitalterritory/economy/industries/employment?state=pBPJF7!zqpdU432PIpMAxgHbd5omIpFefArbs1rWD4UyEABnslfkI00mvCxMa |publisher=EDA Australia |title=EDA ACT Economic Indicators |access-date=29 March 2020 |archive-date=29 March 2020 |archive-url=https://web.archive.org/web/20200329020321/https://app.remplan.com.au/eda-australiancapitalterritory/economy/industries/employment%3Fstate%3DpBPJF7!zqpdU432PIpMAxgHbd5omIpFefArbs1rWD4UyEABnslfkI00mvCxMa |url-status=live}}</ref> The headquarters of many [[Australian Public Service]] agencies are located in Canberra, and Canberra is also host to several [[Australian Defence Force]] establishments, most notably the Australian Defence Force headquarters and {{HMAS|Harman}}, which is a naval communications centre that is being converted into a tri-service, multi-user depot.<ref>{{cite web |url=http://www.navy.gov.au/establishments/hmas-harman |publisher=[[Royal Australian Navy]] |title=HMAS Harman |access-date=3 April 2013 |year=2008 |archive-date=15 May 2016 |archive-url=http://arquivo.pt/wayback/20160515124414/http://www.navy.gov.au/establishments/hmas-harman |url-status=live}}</ref> Other major sectors by employment include Health Care (10.54%), Professional Services (9.77%), Education and Training (9.64%), Retail (7.27%), Accommodation & Food (6.39%) and Construction (5.80%).

<ref name="EDA ACT Economic Indicators" />[[File:NASA's Deep Space Antenna Upgrade to Affect Voyager.jpg|thumb|right|A growing number of Canberrans work in the science and technology sector, such as at the [[Canberra Deep Space Communication Complex]].]]

The former [[Fairbairn Airbase|RAAF Fairbairn]], adjacent to the [[Canberra Airport]] was sold to the operators of the airport,<ref name="fb">{{cite web |url=http://www.awm.gov.au/units/place_1686.asp |title=Fairbairn: Australian War Memorial |publisher=[[Australian War Memorial]] |year=2010 |access-date=23 April 2010 |archive-date=25 December 2010 |archive-url=https://web.archive.org/web/20101225011808/http://www.awm.gov.au/units/place_1686.asp |url-status=live}}</ref> but the base continues to be used for [[RAAF]] VIP flights.<ref>{{cite web |url=http://www.airforce.gov.au/raafmuseum/research/bases/fairbairn.htm |title=RAAF Museum Fairbairn |publisher=[[RAAF Museum]] |year=2009 |access-date=13 May 2010 |archive-date=20 November 2010 |archive-url=https://web.archive.org/web/20101120024953/http://airforce.gov.au/RAAFmuseum/research/bases/fairbairn.htm |url-status=live}}</ref><ref>{{cite web |url=http://www.airforce.gov.au/raafmuseum/research/units/34sqn.htm |title=No 34 Squadron |publisher=[[RAAF Museum]] |year=2009 |access-date=13 May 2010 |archive-date=20 November 2010 |archive-url=https://web.archive.org/web/20101120001833/http://airforce.gov.au/RAAFmuseum/research/units/34sqn.htm |url-status=live}}</ref> A growing number of software vendors have based themselves in Canberra, to capitalise on the concentration of government customers; these include [[Tower Software]] and [[RuleBurst]].<ref>{{cite web |title=USFTA begins to reap results |date=15 January 2007 |work=[[Australian Financial Review]] |last=Sutherland |first=Tracy |url=http://www.tradewatch.org.au/AUSFTA/Article43.html |access-date=17 June 2010 |url-status=dead |archive-url=https://web.archive.org/web/20091013075812/http://www.tradewatch.org.au/AUSFTA/Article43.html |archive-date=13 October 2009}}</ref><ref>{{cite web |url=http://www.theaustralian.com.au/australian-it/hp-bids-for-tower-software/story-e6frgamo-1111115951854 |title=HP bids for Tower Software |last=Sharma |first=Mahesh |work=The Australian |date=2 April 2008 |access-date=17 June 2010}}</ref> A consortium of private and government investors is making plans for a billion-dollar data hub, with the aim of making Canberra a leading centre of such activity in the Asia-Pacific region.<ref>{{cite web |url=http://www.theaustralian.com.au/australian-it/canberra-a-data-hub-target/story-e6frgamo-1111114545957 |title=HP bids for Tower Software |last=Colley |first=Andrew |work=The Australian |date=2 October 2007 |access-date=17 June 2010}}</ref> A Canberra Cyber Security Innovation Node was established in 2019 to grow the ACT's cyber security sector and related space, defence and education industries.<ref>{{cite web |title=Canberra Cyber Security Innovation Node launches |url=https://itbrief.com.au/story/canberra-cyber-security-innovation-node-launches |publisher=IT Brief |access-date=29 March 2020 |archive-date=29 March 2020 |archive-url=https://web.archive.org/web/20200329020322/https://itbrief.com.au/story/canberra-cyber-security-innovation-node-launches |url-status=live}}</ref>