EVEN THOUGH Australia will see stronger economic growth conditions in 2004, potential shortages in the skilled labour market may put a break on economic growth, according to recent research by the Recruitment and Consulting Services Association (RCSA).
A quarterly survey of members found ongoing concerns about the challenges that confront the labour market in keeping pace with the economy.
Recruiters are still positive about economic conditions, but expected slower growth with 4.9 per cent revenue growth predicted, down 1.1 per cent on the last quarter, said Julie Mills, CEO of the RCSA.
“This is in part a result of the holiday period, however increasing skilled labour shortages are having an impact. Our members expressed their concerns that this problem may prevail and the labour market may have problems keeping up with future economic growth,” Mills said.
“This is a key concern for our industry in 2004. The RCSA will be consulting with the industry and formulating our own policy positions for consideration by the government,” she said.
The RCSA survey also noted the recruitment industry is not immune to the problem of labour skills shortages, with many members still expressing difficulty in finding suitable recruitment staff.
The RCSA survey was conducted through a secure internet site, and business managers from RCSA’s membership base of 3,200 across Australia and New Zealand responded.