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Australia faces a shortage of 2.3 million workers by 2030 – one of the worst in the developed world, according to the Boston Consulting Group…
“No matter how you model it, Australia has a serious structural problem with its labour market… Even in our best-case scenario, demand will top supply in only five years. Based on the current do-nothing scenario, we would have to see GDP fall to 2 per cent over many years to avoid a labour shortage. That’s clearly not a solution”…
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.