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Sydney is a very urban city and is the financial and economic hub of Australia. The largest economic sectors in Sydney include property and business services, retail, and health and community services. Since the 80’s, jobs have moved from manufacturing to the service and information sectors. Sydney is ranked the 16th most expensive city in the world and has an unemployment rate of only 4.9%. The average income for a Sydney resident is $1085 a week or $56,570 a year. The banking industry is very dominant in Sydney, with the Australian Securities Exchange and the Reserve Bank of Australia are located here. Sydney also holds the headquarters of over 90 banks and more than half of Australia’s top companies, also regional headquarters for over 500 multinational corporations.
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