The high demand for skilled workers in Australia is one facet of an economy now in its sixteenth year of economic growth. Jobs growth is strong, the unemployment rate has fallen to a 30 year low and labour force participation is at an all-time high. Sustained economic growth will depend on increasing our labour force participation rate and securing continued growth in labour productivity.
Australia’s continued prosperity depends on resources, workers and skills being able to flow between sectors and firms. Australian industry continues to identify skills needs as a key constraint on future sustained growth and investment.
The combination of an ageing workforce, increased competition in the global marketplace and the changing nature of work has created increased demand for skilled workers. Employers are looking for employability skills as well as technical skills. There is also an increasing requirement for higher level skills and qualifications, as job opportunities expand at high level technical and paraprofessional levels.
VET supports Australian industry, individuals and communities by providing opportunities to obtain skills immediately following school, or to upskill for a new or expanded career. Each year, the publicly funded training system educates around 1.7 million Australians.