Preliminary Economics Skills Shortage Essay

1053 Words Aug 2nd, 2013 5 Pages
The skills shortage issue in the Australian labour market is very apparent. In any case, the reasons as to why this is occurring always relates to factors of change. These factors of change include; the general economic conditions, conditions in the firms industry, changes in technology, the ageing population, the demand for labour, and the education, skills and experience of workers. The government investigates ways in which they can protect the Australian economy and the Australian workforce. This is done by the analysis of policies that could be put in place. The Budget Speech announced by Wayne Swan includes government policies that can address the issue of the skills shortage in the Australian labour market. Jobs and Skills Expos are …show more content…
The Unions are furious about this, saying that Australian workers should be a priority. The Australian Council of Trade Unions (ACTU) and the Australian Workers Union (AWU) will continue to push the government to have jobs for local workers advertised before bringing in foreign workers. The known skills shortage within the resource sector has been rising gradually desperate with 33,000 workers needed in Western Australia alone in the following year. The required education involved in particular to jobs restricts the supply of labour. Wayne Swan announced in the budget speech 2010-2011, a new Skills for Sustainable Growth Strategy. $661 million has been organised to be invested into the workforce and the education training systems to make them more responsive and flexible to the economic needs of the workforce. The government has responded to the skills shortage problem in the Australian labour market by introducing a strategy that will bring about 70,000 new training places for workers over the next 4 years. The provision of moral support for 22,500 young apprentices is also an attractive strategy to new workers. There will be easier accessibility to quality training to strengthen the connection between business and training needs. There will also be easier access to training in core foundation skills like numeracy and literacy. Another way the Australian government has addressed this issue is

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