Friday, 29 Mar 2024

Federal Labor boasts about jobs growth while 90% of Australian bosses expect staffing shortages

Federal Labor boasts about jobs growth while 90% of Australian bosses expect staffing shortages


Federal Labor boasts about jobs growth while 90% of Australian bosses expect staffing shortages

Federal Labor has boasted it has overseen the best jobs growth of any new government in 50 years but chief executives are fearful of finding workers in 2023.

The two sides of the jobs boom in Australia are demonstrated by an analysis released by the treasurer, Jim Chalmers, and a survey commissioned by the Australian Industry Group which found 90% of CEOs expected staffing shortages this year.

The tight labour market, with unemployment down to 3.4%, has contributed to eight consecutive cash rate rises since May, as the Reserve Bank of Australia unwinds emergency levels to counter soaring inflation.

According to the Treasury analysis, 234,000 more people were employed in November than when Labor was elected in May, an increase of 1.7%.

The first six months of the Abbott, Howard, Fraser and Whitlam governments all saw jobs growth of 0.6% or less.

The strongest sectors for Australian jobs were construction with 99,000 extra jobs (8.4%), retail trade up 40,000 jobs (3.1%), and accommodation and food services up 40,000 jobs (4.4%).

The Ai Group survey found that chief executives were optimistic, with 49% expecting stronger conditions for business in 2023 compared with 30% who predicted a deterioration.

you may also like

Jacob Zuma Fast Facts
  • by cnn
  • 29 Mar 2024
Jacob Zuma Fast Facts
Vatican Fast Facts
  • by cnn
  • 29 Mar 2024
Vatican Fast Facts
Jacob Zuma Fast Facts
Vatican Fast Facts
Resort Casinos Likely Scuttled Under Amended Bermuda Legislation
  • by travelpulse
  • descember 09, 2016
Resort Casinos Likely Scuttled Under Amended Bermuda Legislation

Premier announces changes to long-delayed project

read more