Salaries in Australia are expected to increase by as much as 5.4% over the next three years, much due to severe skills shortages in the country.
This is one of the conclusions of the June quarter Clarius Skills Index, which also predicts that unemployment rates will drop below 5% by the beginning of 2011.“The developments have some implications on interest rates, population growth debate and decisions about temporary skilled worker visas,” warns Kym Quick, chief operating office for the Clarius Group.
“Currently there is a shortage in eight of the 20 skilled professional, associate professional and trades occupations in the index and a further two are on the cusp of a shorfall,” adds Quick.
The list of industries which will be particularly affected by skills shortages include construction, engineering and building, and there will also be a shortage of trade professionals.
According to Quick, there is currently a shortfall of 6300 construction tradespersons.
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