A growing services industry will be the employers of the future, but a national think tank is urging both federal and state governments to remove regulatory barriers and embrace new technologies to prevent these jobs being driven overseas.
The Committee for Economic Development of Australia says there needs to be much more focus on policies to support this sector.
"We need to make sure we are operating as efficiently as possible in these sectors so we can retain as well as develop jobs," CEDA chairman Paul McClintock says.
Releasing a new report into improving productivity in the services sector, Mr McClintock says with a majority of workers in Australia engaged in such industries, it is generating the largest component of national wealth.
"While other sectors are in decline, this is a sector that is growing and will provide the jobs of the future in Australia," he says.
The report calls for a major inquiry into heath care by the Productivity Commission, as recommended by the commission itself in 2015, saying it is time for the federal government to take action.
Mr McClintock said health care costs are increasing due to a number of factors, but there is a significant opportunity for improving efficiency in both the public and private sectors.
"However, this must not look just at cost but also the social cost or value," he said.
The report also calls for greater efficiencies in the university sector and periodic independent reviews into the financial sector - as recommended by the Murray financial inquiry - to ensure appropriate government support is being delivered.
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