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Labour shortages to hit manufacturing
Australia’s manufacturing sector has bounced back from sharp declines last year, however its expansion is being hampered by labour shortages not seen in 14 years, the latest industry survey has found.
The latest quarter results from the Australian Chamber-Westpac Survey of Industrial Trends shows that while Australian manufacturing is gathering momentum, there are new constraints to the sector’s potential growth.
“The Labour Market Composite Index strengthened further, with manufacturers continuing to expand their workforce, and expectations for future employment remain positive,”ACCI’s Chief Economist Dr Ross Lambie said.
“However, employers are having increasing difficulties finding experienced workers as a result of domestic and international border closures – these labour constraints are at levels not seen since September 2007.