Australia will need 1.4 million extra skilled workers by 2025
November 17, 2009
According to a new report by the Victorian Employers Chamber of Commerce, Australia will have a skills shortage, and will require 1.4 million additional workers by 2025, unless steps are taken.
The report indicates that under current trends and government policies, the nations participation rate (The percentage of Australia's working-age population that is employed or seeking employment) would fall from 65.2 to 61.8 by 2025.
Based on their findings, the organisation has recommended a number of measures, including removing barriers to work for older people, and boosting skilled immigration intake.
In an interview with The Australian, one of the reporters, Darin Ritchie said "To meet moderate levels of labour-demand growth, Australia's participation rate would need to be 68 per cent,"
"To address this workforce deficit, Australia needs to raise the average retirement age, increase the workforce participation of disadvantaged groups, increase migration, or offset labour demand through productivity growth."