The economy is recovering – but not without the right talent
Growth in the sectors of health, construction and manufacturing signal better days ahead for the Australian economy. One setback that businesses face, however, is the apparent shortage of skilled workers who will support this period of recovery. The solution? Governments should look into gradually relaxing restrictions on labour migration and expand quarantine facilities and measures, according to a senior executive at National Australia Bank.
Andrew Irvine, who helms business banking at NAB, said he is seeing an increasing number of new accounts and a spike in the demand for credit among clients who want to pivot towards growth in the post-COVID business climate. But employers are purportedly struggling to find the right people, he said in a report from The Sydney Morning Herald.
Irvine believes relaxing border controls even slightly can address the current labour shortage in certain industries. Overall, the entry of skilled workers is predicted to boost the economy if government leaders eased restrictions for specific classes of migrant workers. “I would like to see all levels of government working well together to safely get long-term migration going, so we can bring [skilled workers] here and get them to work,” Irvine said.
Read more: Skilled migrant visa overhaul: How would it impact Australia?
Tapping into these talent pools can alleviate the pressure on businesses crippled by a labour deficit. However, this leeway is intended for migrants who are invited to work in Australia and contribute to economic recovery in the long term. “I’m not talking about your two-week holiday. What I am talking about is enabling skilled migration and international students to come back safely to Australia. We’re more optimistic that can happen in the medium-term than we would be around tourism,” Irvine said.
Relaxing labour migration rules, however, would have to be supported by proper quarantine measures, right from the moment migrant workers land in Australia. Governments would thus have to build additional quarantine facilities to house newly arrived employees.
