Record low unemployment rates are welcomed by politicians and workers are enjoying job choice, but businesses are especially challenged by the shortage of labour.
As a consequence, Australia is experiencing:
- Hiring signs are becoming increasingly common in shop windows.
- Labour shortages force businesses to limit services.
- Recruiters have to increase pay to lure talent.
- The Council of Small Business Organisations Australia reported, “It’s stifling growth, and it’s stifling their ability to innovate,”
- Smaller firms are less able to free up staff and time to train newcomers.
- An increasing number of unleased shops in shopping centres.
The government will inevitably trigger increased employment with election promises and commitments to infrastructure spending.
However, despite these issues, businesses are confident that they will be able to fill jobs and maintain profitability. Employees will also benefit from greater job choice and improved pay and conditions.
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