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The biannual Economic Snapshot of Wagga Wagga's economy has been prepared. Some highlights are:
• Over the past year, Wagga Wagga's population has increased 1.6% to 62,904. Five year population growth in Wagga Wagga has outstripped the State average of 1.2% per annum with an average growth of 1.7% per annum since 2004. Looking forward, Wagga Wagga's official population growth is projected from 2011 to maintain an average of 1.2% per annum growth to 2026.
• The Wagga Wagga unemployment rate declined over the past year by 0.2 percentage points to 4.2% highlighting a strengthening in employment opportunities in the region. This is well below the unemployment rate of the State (5.9%) in the same period. Wagga Wagga's GRP increased 2.0% to $3.4 billion in 2008-09 The top three sectors contributing to Wagga Wagga's GRP in 2008-09 are:
- Public administration & safety (11.6%);
- Manufacturing (10.2%); and
- Financial & insurance services (9.1%).
Overall, it is apparent that the Wagga Wagga economy ‘s diversity is a major factor in its relative stability, even in the face of the recent dry times in the region's agricultural sector and the Global Financial Crisis. Wagga Wagga has a large industrial sector, as well as being the primary service centre for the surrounding Murrumbidgee region while also having a significant public sector including the Australian Defence Force (ADF) and Charles Sturt University. The new $25 million Regional Express' Australian Airline Pilot Academy at the Wagga Wagga Airport provides further evidence of economic diversification.
