Starved of workers – young and old
The economy is “hungry” for skilled workers, and ultimately, it will not matter if they are 27 or 67 years of age, the Australia’s E-journal of Social and Political Debate claims. A recent survey reviewed 400 businesses and found more than a quarter of the companies could not find workers to fill vacant positions, with the situation predicted to become worse.
The economy is “hungry” for skilled workers, and ultimately, it will not matter if they are 27 or 67 years of age, the Australia’s E-journal of Social and Political Debate claims.
A recent survey, conducted by the Australian Industry Group and Deloitte, reviewed 400 businesses and found more than a quarter of the companies could not find workers to fill vacant positions, with the situation predicted to become worse.
The survey makes a number of startling revelations, including: the number of working age people to support each retiree is expected to fall from five people today to 2.7 people by 2049-50, and about one quarter of total government spending today is directed to health, age-related pensions and aged care, with it set to rise to about half by 2049-50.
A University of Sydney study finds of the 1,000 baby boomers surveyed, 40% were ‘hard hit’ by the Global Financial Crisis, and another 40% of women and 32% of men planned to postpone their retirement.
With a shrinking labour force through to retirement and fewer members of the younger generation entering the workforce, keeping experienced staff will become a “strategic aim of HR”, according to Social and Political Debate.
While those with “healthy savings” may “wave the world of work goodbye”, a retiree will reportedly need about $40,000 per annum to live comfortably.
