As the developed world becomes more reliant on knowledge as a vital part of economic growth and development, the importance of highly skilled workers who can create, disseminate and use new knowledge becomes integral. Within Australia, recent policies relating to higher education and research have prompted new thinking about the extent to which the research training in Australia is able to facilitate growth, given the economy's current reliance on natural resources is unsustainable (Cutler, 2008). This paper draws on work undertaken for the Australian Department of Innovation, Industry, Science and Research specified to examine issues relating to the research workforce. It focuses on estimating the extent of workforce demand for the PhD in Australia between now and 2020. The research presented here is intended to stimulate further thought and research about these issues and the extent to which policy can be created to facilitate the sustainable growth of Australia's knowledge economy. (Contains 3 tables and 2 figures.)