After businesses were placed on lockdown, for a large part of the year, and jobs were lost for a while, the situation has now taken a 180-degrees turn, and companies cannot find the necessary workers they need.
A Unique Opportunity
Australia has been one of the hardest countries to immigrate to, over the last few decades. It might be one of the reasons why so many people were attracted to it (the forbidden fruit theory). But this position seems to be changing, at least temporarily, as the government tries to find solutions for all businesses needing to fill positions, and that cannot find employees inside the country. In fact, they are now offering cash and travel bonuses to attract workers to Australia.
As construction sites are reopening, and shops placing the “open” sign on their front doors, it is the perfect time to grab your welding machine, or to put the experience you have in the hospitality industry to good use, by sending your CV out to Australian construction promoters or hotels, shops and restaurant owners.
Accumulated Wealth makes for a Higher Demand
If there is such a strong resurgence of the economy in Australia, it is in great part due to the fact that no one has been spending money during the lockdown periods. Now, they are looking to come out and to “live a little,” to move away from the memories of having to stay at home, for such long periods of time. Places like the “Whitton Malt House” are becoming desperate, trying to find new employees, to cater to their clients needs. They have placed all their efforts, using social media to reach everyone, and yet they do not have the necessary personnel they would need for full efficiency.
Solving a conundrum for the Government?
How do you raise inflation with a large unemployment number? That was the problem facing Reserve Bank Governor Philip Lowe, for a few years now. He hasn’t been able to meet the RBA’s inflation target since he took the job in 2016. But that may very well change now, as there are no better ways to raise salaries and create inflation than on a market where there aren’t enough qualified employees available. For now, it would seem like the economy is going in the precise direction he had been hoping for, throughout the last five years. Let’s see if that can last!