Reversal of migration exacerbates labor shortage

The most recent ABS data showing the estimated resident population in all states and territories indicates that Australia’s growth has virtually stalled.

It is the compilation of the natural rate of population growth, overseas migration and interstate migration.

HIA senior economist Nick Ward said Australia’s population growth had slowed to just 0.3% in the year to the September quarter of 2021, close to the slowest growth rate for over 100 years.

“Population growth has slowed as net outward migration, previously a source of growth, has reversed and turned negative.

“Migration is an important source of young people, including workers, reverse migration almost certainly contributes to the labor shortages businesses are experiencing.

“A return to stable and reliable skilled migration pathways is essential for a return to stable economic growth.”

Population growth declined significantly but remained positive in the following countries: Queensland (+1.11%), Western Australia (+0.67%), New South Wales (+0.30%), Australia- Southern (+0.14%) and Tasmania (+0.03%). percent).

Population growth turned negative in: the Australian Capital Territory (-0.07%), the Northern Territory (-0.24%) and Victoria (-0.49%).

Australia’s projected population for 2022 is projected to be 25,768,000 and is expected to reach 31,433,000 by 2041.