Posted on September 05 2022
The plans to rev up the performance of the Australian economy have a new addition to it now. The Australian government has expressed its desire to raise the income threshold of certain categories of temporary foreign workers. This could bring a great boost to the interest among skilled foreign nationals. Australia needs them as they are eager to explore and utilize the opportunities in Australia.
As Brendan O'Connor, the Skills and Training Minister of Australia, said increasing the income threshold for some temporary migrants in Australia is under the Australian government’s consideration. The obvious reason is to solve the issue of rampant worker shortages in the country.
Australian Prime Minister, Anthony Albanese, also voiced his support for measures taken to improve the availability of skilled workers in Australian industrial sectors. He has urged that Australian employers and unions must do compromises to ensure that a key economic challenge is dealt with and overcome.
The Australian government has already announced that it will increase the immigrant intake in FY 2022-23. It will be raised from 160,000 in the last financial year to 195,000 in FY 2022-23. This will benefit Australian employers from the strain of dependency on short-term workers and the stress of the lack of enough skilled workers.
The Australian government has also taken into consideration increasing the income threshold of temporary skilled migrants from AUD53,000 as of 2013. A raise to AUD65,000 will be what will align with the policy of the center-left Labor Party. However, that’s yet to be finalized.
|The good news is that the jobless rate in Australia presently stands at 3.4%. This is the lowest rate in 50 years.|
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Brendan O'Connor has dismissed the claims about multi-employer industrial bargaining that would end up in strikes in Australia. He has rejected such claims, affirming that no counter-productive scenario is emerging currently. This couldn’t be any less than an assurance at a time when Australia is competing with major world economies like Canada and Germany to bring in high-skilled migrants.
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Posted On September 27 2023
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