With 371, 000 new Australian Jobs created in 2017, it is an average of 1000 jobs per day!
Posted on December 27, 2017
371, 000 new Australian Jobs were created in 2017 with an average of 1000 jobs per day revealed the treasurer of Australia Scott Morrison. Meanwhile, the population growth of Australia was recorded at 388,000 for the year ending June. This implies that even the population increased at the rate of more than 1000 people per day.
Prime Minister and Treasurer of Australia both have given much significance to figures of GDP as well as the population growth. The population growth of Australia was extraordinary at 1.6% annually when compared with other nations in the world. It is more than twice that of the population growth of the US. It also thrice that of the population growth of UK and four times that of France.
The growth of population also implies that there is enhanced the supply of workers. The plain rule of demand and supply in economics implies that the new workers would also lower the price of labor.
A large intake of workers also makes sense when there is a shortage of Skilled Workers. This will cater to the shortage of skill supplies, as quoted by the ABC Net Au. It is also sensible to have a program for skilled immigration to retain talents that cannot be retained automatically.
At the peak of the boom in mining investment talents were attracted from overseas. This permitted several occupations to be filled assisting in the completion of projects. However, the shortage of skills must be carefully analyzed. Only when local talents are not available for these jobs should the Overseas Workers be hired. The current projections indicate that the population of Australia will reach 38 million by 2050.
Net immigration was 245, 400 for the last one year in Australia. This was an increase of 27% when compared with a year earlier. It is more than the population of Hobart for fresh immigrant arrivals in one year.
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