Business Services Industry
Half a million workers short.
Australasian Business Intelligence, June, 2003
Jun 20, 2003 (The Australian Financial Review - ABIX via COMTEX)
In the year 2020, it is predicted that Australia will be facing a labour shortage of around 500,000 workers. Based on research by the Organisation for Economic Cooperation and Development (OECD), the Boston Consulting Group released a report examining future labour levels worldwide. The predictions of an Australian labour shortage contained in the report have been taken up by the Australian Institute of Management as proof the value of older workers needs to be acknowledged. According to the OECD an effective retirement age of 62 for Australian men and falling birth rates will be the main causes of the problem.
Publication Date: 21 June 2003
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