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CEDA: Skilled migrants key to growth | Sky News Australia


CEDA: Skilled migrants key to growth25/04/2021|5min
One of the biggest problems facing all business right now is a shortage of skilled labor.
Despite the unemployment rate of 5.6 percent, employers have reported having to pay higher wages to skilled workers to keep them.
Sky News Business Editor Ross Greenwood sat down with the Chief Executive of the Committee for Economic Development of Australia, Melinda Cilento where they discussed the importance of skilled migration in Australia’s economic recovery.
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Australian economy again defies expectations in December quarter

Australian economy again defies expectations in December quarter
skynews.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from skynews.com.au Daily Mail and Mail on Sunday newspapers.

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Unemployment falls to 6.4 per cent for January

The Australian Bureau of Statistics has revealed the unemployment rate for January has dropped to 6.4 per cent from 6.6 per cent in December which was better than the consensus forecast of most economists.

The number of people in employment has risen to 12.93 million people up from 12.1 million in May last year.

Sky News Business Editor Ross Greenwood said, “it also means Australia is getting … close to where employment was before coronavirus really took hold.”

“In December 2019 there were 13 million Australians who were effectively employed at that time”.
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Big banks considered sharing branches to cut costs

It’s been revealed the big four banks have considered sharing their branches in a move that has job implications for tens of thousands of employees.

Sky News Business Editor Ross Greenwood spoke to Commonwealth Bank CEO Matt Comyn who said it’s something that the industry has contemplated.

“Clearly there are fewer people going into branches than there were a year ago, COVIC certainly accelerated that,” Mr Comyn told Sky News.
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