Australia's economic output would be tens of billions of dollars greater if indigenous employment rates could be improved, according to Deloitte Access Economics.
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The company says the economy could be boosted by $24 billion in the course of two decades if Aborigines and Torres Strait Islanders had the same job opportunities as other Australians.
Reconciliation Australia, which commissioned the report, said the figures provided powerful evidence that governments should concentrate job creation and education efforts on urban and regional, as well as remote, indigenous disadvantage.
The group's co-chairman, Tom Calma, said the analysis highlighted the problems with ''one-size-fits-all'' approaches by governments to entrenched educational and employment problems.
The Deloittes report said the national economy could grow by more than 1.15 per cent in real terms - a gain of about $24 billion - by 2031 if the employment gap were closed.
It also found the larger tax base could boost government revenues by $7.2 billion and increased prosperity among indigenous workers could reduce spending by $4.7 billion.
Dr Calma said gains in indigenous employment would have knock-on effects on population health and wellbeing. ''The report estimates that closing the education gap would see an additional 26,000 jobs and that raising Aboriginal and Islander health outcomes would see a 9 per cent increase, or 13,000 additional jobs,'' he said.
Report author Ric Simes believes that NSW, with the largest Aboriginal population, would have the greatest economic boost but the benefits of closing the employment gap in remote populations such as the Northern Territory, the Kimberley and Cape York would be disproportionately large.
Dr Calma said the report provided backing for a regionally tailored approach to indigenous disadvantage. ''This finding strongly reinforces arguments by indigenous leaders and others against a one-size-fits-all approach and for tailored efforts across all regions,'' he said. ''It provides evidence to counter the argument that governments should concentrate solely on employment in remote areas.
''The report's three case studies - Blacktown in western Sydney; the Fitzroy region, including Rockhampton and Gladstone, in Queensland; and Alice Springs and the remote southern parts of the Northern Territory - find that industry-specific and locally tailored strategies will be required.
''In western Sydney great opportunities exist for additional indigenous jobs in financial and professional services and the retail sector, while in Alice Springs there is great potential to provide employment to local Aboriginal people in construction, food services and accommodation.''
Dr Simes, a Deloittes partner, said his work added an economic impetus to the social case for reform of indigenous policy.
"The potential economic gains, in terms of greater national wealth and stronger government budgets, illustrate the benefits which the country would achieve as a result of improvements to indigenous life expectancy, employment and productivity,'' he said.