Immigration cuts, strong growth in Australia could increase demand for immigrants

Australia, 8th September: Australia is likely to have shortage of workforce in the nation due to cuts in immigration by the Australian government.

This has been warned by several Industry analysts of the nation.

The Housing Construction Industry is already facing an acute shortage of labor although the proposed cap on annual immigration in Australia is yet to be imposed. A large proportion of the total workforce in the housing industry is provided by immigration in Australia.

Harley Dale, the chief economist of HIA(Housing Industry Association), admitted the fact that Australia is currently having shortage of skilled labor and the condition is only going to become more grave for Australia as the Australian economy heads towards growth in the coming times causing a higher demand for workers in Australia.

The latest data revealed by ABS (Australian Bureau of Statistics) shows that Australian economy showed a growth rate of 1.2 percent in the period of quarter to June 2010. This growth rate in Australia is the fastest in the last three years period and is a direct reflection of the fact that the nation is emerging up from the recession.

The growth rate, which has not been expected by economists in Australia, has been rising for the last five quarters consecutively.

According to Treasurer Wayne Swan, the growth in Australia has been outstanding while senior economist, AMP Capital Investors, Bob Cunneen, called the figures as surprisingly robust.

Growth in mining, technical, construction and professional services has gone up in the 2nd quarter of 2010, the ABS figures clarified.

Also, there has been an increase in the GDP (gross domestic product) of 3.3 percent for the current year to June paving the path for much higher increase in services and goods by Australian economy.

So, all those who want to work in Australia, especially skilled migrants wanting to immigrate to Australia in search of jobs here are likely to feel elated by the present rate of growth in Australian economy since the demand for those looking to work in Australia is going to multiply in the times ahead.

Shortage of skilled labor in Australia fueled by cuts in immigration levels is also going to lead to wage pressures, said Craig James, an economist with CommSec. The mining staff already has higher average wages in Australia and the wages are further expected to increase following labor shortage, he added.