Australia lacks workers

 According to an opinion article last week, Australian businesses are facing labour shortages as the economy recovers from the Covid slowdown.



Many of the shortages are easily understandable given the decrease in international travel and the closure of restaurants due in part to the decline in arrivals of international students and partly due to the influx of populations in remote areas due to population movements.

There are shortages that cannot easily be explained such as those in the transport industry.

Slow vaccine rollouts and delaying the opening of international borders contribute to a growing problem by denying many industries access to needed foreign workers; students from foreign countries also move into entry level positions such as accounting.

With the international borders continuing to be closed, it is certain Australia’s usual immigration numbers will continue to be low, with the expectation the economic growth must be affected due to the lack of these new Australians participating in the workforce.

State border closures and lockdowns are contributing to the labour shortage by decreasing seasonal, contract, and temporary workers' ability to cross borders.

There will be increasing pressure on Australian wages as labor is restricted in the country.

Innovation and outsourcing will be critical factors in ensuring that Australia will have the workforce it needs to complete its work in the future, a shift being driven by the rapid shift to working from home in the digital world. Despite a global economic environment, it's likely that those countries that have the capacity to manage an epidemic professionally (through vaccination and efficient outbreak control systems) will be able to gain ground.

Neil Accountants & Advisors is a team of 25 Accounting professionals and is currently working for CPA firms in Australia at most affordable charges.

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