Australia requires 1.4 million skilled workers by 2025

A research made in Australia regarding immigration outlines that Australia would face a potential skills shortfall if steps are not taken to increase workforce participation. According to the report by the Victorian Employers Chamber of Commerce, Australia will have a skills shortage, and will require 1.4 million additional workers by 2025. Australia is expected to see strong population growth, figures based on the continuation of high birth and net migration rates, but the report paper warns the ageing population will mean a decline in workforce growth which will exacerbate labour shortages. "The prominence of demographic change and skill shortages has recently been overtaken by the economic downturn of the last 12 months. With unemployment increasing over that period, it would be easy to assume we no longer have a labour or skills shortage problem. However, skills shortages still exist in many industries, and the reality of Australia's ageing workforce means we face a structural deficit of workers over the next 15 years”, the paper says.
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. Providing further information, one of the reporters of a famous Australian newspaper, 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."
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