Australia is importing the wrong skills

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Recent data from Jobs & Skills Australia (JSA), published in The Australian, showed that there were an abundance of applicants per job, suggesting that concerns around labour shortages are overblown.

At the economy-wide level, there were 29.3 applications per vacancy, 9.4 qualified applicants per vacancy and 4 suitable applicants per vacancy:

Applicants per job - total

Separate recruitment difficulty data from JSA also suggested that labour shortages were tracking at pre-pandemic levels, with Australia oversupplied with low-skilled workers.

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Recruitment difficulty

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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.