Australia requires 8,00,000 new workers in next 5 years

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As a result of the resource boom, it has been recorded that Australia in five years must source 8,00,000 new workers. This shall force employers to multiply their efforts to find skilled workers.

There has been an upcoming shift in the structure of the jobs Market, where an expected loss of 85,000 manufacturing roles is replaced by a growth in demand for professional skills.

The Australian issued a government analysis, which facilitates executives to implement new policies which shall aid in increasing the supply of labour in key industries showing maximum growth.

In a survey conducted recently, it has been found that the no. Of low skills jobs are rising by just 7% of all the new jobs that are created every year, which sums up to barely 10,000, which is not a very good sign.

A corporate regional shift can also be expected, as Queensland had created maximum jobs compared with NSW, western Australia, South Australia and Victoria

Figures show that as compared to mine companies which are expected to need about 100,000 new workers over the next five years, social assistance employers and healthcare sectors may require 240,000 and professional services companies will need  110,000.

As manufacturing industry is shrinking, new jobs will be created in Education, retail, financial services and tourism industries.

Forecasts are showing some signs of danger, as 19 out of 20 jobs that are created require higher than high school qualifications. This is expected to limit opportunities for job- seekers with low qualifications, experience and skills than specified.

The reliance on immigration in such scenario would be much more than present.

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