One in three Australian companies says skills shortages will hold back their operations this year.
According to a report from the National Centre for Vocational Education, 15,000 fewer people started trade apprenticeships or traineeships last year. In sectors as vital as construction, electronics and automotive, the fall was 20% of total number of internships in the previous year.
An Australian Industry Group survey also confirms this trend, showing nearly half the companies surveyed expect to limit their operations within the next five years, with some even reporting that is already happening.
“Skills shortages are set to intensify with a vengeance, and are arguably the number one threat to our economic growth,” says Heather Ridout, chief executive of the Australian Industry Group. “For governments, addressing skills shortages needs to be put right at the top of the policy agenda.”
