In today’s video update, we will discuss about the skilled migration’s boosting growth in Australia. 🔴 Whatsapp Group / Telegram Channel: http://bit.ly/39ZxRo5 🔴 IMPORTANT LINK: https://bit.ly/366167d
The assurance of Treasurer of Australia, Josh Frydenberg that he is looking into the size and composition of our migration program will encourage employers and business groups interested in making up skills shortages as the economy opens up after the pandemic. One of the country's foremost business groups, the Australian Chamber of Commerce and Industry, has asked for annual skilled migration to nearly double to 200,000 across the following five years to avoid a “skills crunch”. Andrew McKellar, the ACCI chief executive, who originated recently the chamber’s Better Australia strategy, stated that in an average year before the pandemic, around 120,000 skilled migrants landed in Australia. To face the skills crunch affecting the economy, the shortfall of 200,000 skilled migrants is required to be covered in the next few years. The system should be less complicated and less costly, and also draw international students and working holiday-makers.
The ACCI’s proposal for a significant increase in qualified foreign workers coincides with the Fitch rating agency, that the blow to immigration connected with Covid-19 had struck Australia’s growth potential from 2.9 per cent a year to just 2.1 per cent. As the Treasurer announced recently, population growth pre-pandemic was 1.2 per cent, in 2021-22 it will be 0.2 per cent, the lowest in a century, with net overseas migration moving to a negative. Australia also has a structural long-term decline in the fertility rate. Mr Frydenberg added that this will affect their economy and the ageing of the population as migrants tend to be younger. He further stated that this result of Covid with sealed borders and population growth slowing will be evident in the size of our population.
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