The Australian, State and Territory governments’ recurrent expenditure (including user cost of capital) on VET totalled $6.1 billion in 2017 — a real increase of 2.2 per cent from 2016.
Nationally in 2017:
- an estimated 4.2 million students participated in total VET, and around 1.2 million students participated in government‑funded VET
- there were 4193 VET providers, of which 1874 delivered government-funded VET at 38 261 locations in Australia
- around 757 800 qualifications were completed by total VET students aged 15—64 years — equivalent to 46.9 qualifications per 1000 people. Around 361 900 qualifications were completed by government-funded VET students aged 15—64 years — equivalent to 22.4 qualifications per 1000 people.
Nationally in 2018:
- 87.4 per cent of all government-funded 2017 VET graduates were satisfied with the overall quality of their training
- 59.6 per cent of 20—64 year old total VET graduates from 2017 improved their employment status after training — an increase from 57.5 per cent in 2017.
The VET system aims to deliver a productive and highly skilled workforce through enabling all working age Australians to develop and use the skills required to effectively participate in the labour market and contribute to Australia’s economic future. To achieve this, the Australian, State and Territory governments aim to create a national training system that:
- is accessible to all working age Australians
- meets the needs of students, employers and industries
- is high quality.