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Nearly one-third of Australian companies have a hard time finding employees due to the low number of job seekers and lack of applicant skills.
Business Status and Sentiment Report In a June survey by the Australian Bureau of Statistics (ABS), 51% reported difficulty in finding qualified staff, making accommodation and food service companies most affected by labor shortages. I found out.
This was followed by education and training at 47% and management and support services at 43%.
Companies cited inadequate job seekers (79%) and applicants without the required skills (59%) as the most common reasons for staff shortages.
“This corresponds to the strengthening of the employment market and the current low unemployment rate,” said Tom Joseph, Head of Industry Statistics at ABS.
It’s worth noting that small businesses are less likely to have a hard time finding staff than small businesses.
in the meantime, Another survey The lowest unemployment rate in almost 50 years has shown that Australian consumers have helped to cope with the pressure on living expenses.
The National Australia Bank (NAB) Consumer Stress Index rose from 55.7 points in the three months to March to 56.4 points in the June quarter. However, it is still below the survey average of 58.7 points, which was 57.8 points in the previous year.
In addition, the study found that employment security-related stress dropped to 41.4 points, the lowest level in four years.
However, the stress of living expenses has skyrocketed to 67 points, the highest level since 2018.
Employment security relieves pressure on living expenses
Rachel Slade, executive at NAB’s Personal Banking Group, said many individuals at the bank are in a good position, although some individuals may be under pressure to live.
“In fact, mortgage payments are 70% ahead and financially flexible,” she said in a comment received by AAP.
In addition, Mr Slade said employment stability played an important role in reducing household stress, and high employment rates helped calm people.
“We see many customers making their own adjustments. 40% of Australians are now creating and following great budgets,” she said.
Meanwhile, ABS reported: Australian household wealth Per capita wealth reached a record high of $ 574,807 in the March quarter, up 1.2% to a record high of $ 14.9 trillion (US $ 10.3 trillion). The surge in wealth was due to rising house prices.
“Sydney and Melbourne fell this quarter and real estate prices began to slow down, but other capitals and regions rose and home prices rose 1.9% nationwide,” said ABS Treasury and Assets. The head of the department said. Catherine Keenan said.
Compared to the March 2020, when the COVID-19 pandemic first occurred, Australia’s household wealth surged 35.3%.
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Alfred Bui is a Melbourne-based Australian reporter with a focus on local and business news. He is a former small business owner and holds two master’s degrees in business and business law. Contact him at [email protected].
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