find the latest legal job
Corporate Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Highly-respected, innovative and entrepreneurial Not-for-Profit · Competency based Board
View details
Chief Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Dynamic, high growth organisation · ASX listed market leader
View details
In-house Projects Lawyer | Renewables / Solar | 2-5 Years PQE
Category: Generalists - In House | Location: All Australia
· Help design the future · NASDAQ Listed
View details
Insurance Lawyer (3-5 PAE)
Category: Insurance and Superannuation Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Dynamic organisation ·
View details
Legal Counsel
Category: Corporate and Commercial Law | Location: North Sydney NSW 2060
· 18 month fixed term contract · 3-5 years PQE with TMT exposure
View details
Skills shortage tops Swan's agenda

Skills shortage tops Swan's agenda

The Federal Government last night announced an investment of more than $660 million in training, to address the looming skills shortage in a recovering economy.With predictions of a return to…

The Federal Government last night announced an investment of more than $660 million in training, to address the looming skills shortage in a recovering economy.

With predictions of a return to full employment (4.75 per cent) by mid 2012, Treasurer Wayne Swan said the priority has shifted from "soaking up idle capacity in the economy to building new capacity in the future".

As demand in some industries has threatened to outstrip supply, Swan said the Government's new training package will provide Australians with the skills needed to support a sustainable economy.

"Not long ago the Australian economy was facing skills shortages that were constraining growth and contributing to wage and price pressures," he said. "Now as some industries and sectors are growing faster than others, labour demand will grow faster in some areas than others as our recovery gathers pace."

The four year training package will aim to address the skills deficit through an emphasis on vocational training. It includes up to 39,000 additional training places in sectors facing high skills demands through a $200 million investment in a new Critical Skills Investment fund. Young apprentices will be clear winners with support for around 22,500 new apprenticeship commencements through a $79.4 million extension of the successful Apprentice Kickstart aimed at small to medium businesses. Swan also announced an offer to the States and Territories to provide a guaranteed entitlement to a training place for all Australians under the age of 25 years to ensure young people have every opportunity to gain a qualification.

Large investments in vocational training systems, and a MySkills website are all part of the plans announced to bump up the economy against capacity constraints.

Adult literacy training was also a key part in Swan's training scheme, announcing a further $120 million to be spent over the next four years for training in adult language, literacy and numeracy programs, titled the Skills for Sustainable Growth program. Additionally, a further $15.7 million will be set aside to boost the existing Workplace English, Language and Literacy program which will receive funding for an addition 9,500 places over the next four years.

About $13.1 million will be provided for the establishment of 8,000 community-based "informal learning options".

"Mercer has been concerned for some time about the aging workforce and what this will mean for future labour force supply," said David Anderson, managing director and market leader for Mercer. "Any investment to increase labour supply and alleviate skills shortages will help support further economic growth and productivity."

"The investment in skills in critical areas promises to help Australian businesses to have the human capital resources where they are needed most and assist in alleviating the skills shortage that has threatened our growth and productivity," he said.

"Likewise, the focus on creating a financial services hub in Australia through additional measures, builds on an already strong financial services industry and which we expect will create more jobs and promote competition and continued innovation. Australia has built an internationally competitive financial services industry and the Government's announcements will enhance the industry's future prosperity."

- Sarah O'Carroll

Like this story? Read more:

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017

Skills shortage tops Swan's agenda
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
LCA president Fiona McLeod SC
Aug 17 2017
Where social fault lines meet the justice gap in Aus
After just returning from a tour of the Northern Territory, LCA president Fiona McLeod SC speaks wit...
Marriage equality flag
Aug 17 2017
ALHR backs High Court challenge to marriage equality postal vote
Australian Lawyers for Human Rights (ALHR) has voiced its support for a constitutional challenge to ...
Give advice
Aug 17 2017
A-G issues advice on judiciary’s public presence
Commonwealth Attorney-General George Brandis QC has offered his advice on the public presence of jud...
APPOINTMENTS
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
opinion
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
Help
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...