BLUF
In early 2023 a labour shortage is hitting the Australian service industry—it is worth noting that Defence contractors compete in this market in providing services to defence, which could affect future costs.Summary
This article by Chang and Orr, writing for SBS News, makes these points:
- Latest Labour Force data confirms job vacancies are up by 95%.
- Most affected are in accommodation and food services as they suffered disproportionate pandemic layoffs and surge in demand post lockdowns.
- As the economy slows due to higher interest rates and a weakening global economy, this shortage might not continue.
References
Recent Runway Posts related to this topic:
- Last Year NSW had Centrelink Queues. Now there is skills shortage – TheRunway (airforce.gov.au)
- Australia’s official unemployment rate predicted to fall below 4% as staff shortages bite – TheRunway (airforce.gov.au)
References from the Web :
- DEC 2022 How to combat labour shortages in 2023 – HCA Mag
- DEC 2022 Factors influencing the supply of labour in 2023 - Commbank
Source Information:
- Article Source: SBS News
- Media Check: SBS News - Media Bias Fact Check (mediabiasfactcheck.com)
- RAAF RUNWAY: RATIONALE, GUIDELINES, LEARNING OUTCOMES, ETC
