The argument that Australia needs to maintain a turbo-charged skilled migrants intake (both permanent and temporary) to alleviate skills shortages was recently shot to pieces by the latest Department of Employment skills shortages report, which showed that Australian skills shortages “continue to be limited in 2016-17”, and that there are a high number of applicants per job:
As well as a record number of Aussies studying at university:
Of whom many graduates cannot gain meaningful employment:
Now, global jobs site, Indeed, suggests Australia’s so-called ‘skills shortages’ are among the lowest in the world, with a world leading rate of 70% of jobs being filled within one month. From Business Insider:
Most jobs advertised in Australia are filled within a month.
Analysis by Indeed, the global jobs site, shows that Australia, along with the UK, has a world leading rate of 70% of jobs being filled within one month.
In the US, only 56% of jobs are gone in the first 30 days. In Germany, it’s 51%.
In Australia, the jobs situation has been improving.
…the employer still has the advantage in the jobs market, says Chris McDonald, managing director, Australia and New Zealand for Indeed…
South Australia and ACT topped the list with 73% of roles being filled within 30 days, closely followed by Queensland at 72%, and WA, Victoria and Tasmania at 71%.
NSW (69%) and Northern Territory (68%) had the lowest rates of jobs filled within 30 days indicating that they are most favourable markets in Australia for job seekers.
It’s hard to take claims that Australia is suffering from widespread skills shortages seriously, especially when Australia’s labour underutilisation remains at elevated levels and wages growth is stuck near historical lows.
As explained by The Australia Institute’s chief economist, Richard Denniss, in April, the very purpose of foreign worker visas is to “suppress wage growth by allowing employers to recruit from a global pool of labour to compete with Australian workers”. In a normal functioning labour market, “when demand for workers rises, employers would need to bid against each other for the available scarce talent”. But this mechanism has been bypassed by enabling employers to recruit labour globally. “It is only in recent years that the wage rises that accompany the normal functioning of the labour market have been rebranded as a ‘skills shortage'”.
Given the significant slack in the labour market, as well as the pressure that mass immigration is causing on house prices and infrastructure in the major cities, there is a strong case for normalising Australia’s net migrant intake back to the historical average of 70,000 from around 200,000 currently.
Wake up Black Hole Malcolm:
