A report released last week by the National Skills Commission (NSC) shows that while the impact of COVID-19 on the labour market has been significant, some data indicates early signs of stabilisation and a small increase in the number of employers looking to hire.
The NSC is a critical new part of Australia’s economic infrastructure, providing expert advice and national leadership on the Australian labour market, current and future skills needs and workforce development issues.
Minister for Employment, Skills, Small and Family Business, Senator Michaelia Cash said there is a need to accurately understand what is happening in the labour market, the structural shifts that will occur and the skilling and re-training needed to get people into jobs.
The report ‘A snapshot in time: the Australian labour market and COVID-19’ makes clear the scale of the economic challenge facing Australian workers and businesses planning a COVID-19 recovery.
The report details some of the work already available by the NSC to improve and consolidate Australia’s skills forecasting capability with the future in mind – that is, with an eye to the new and emerging jobs and skills workers will need.
“Skills are fast becoming the new currency of labour market activity, able to provide employers, workers, students and policymakers with a wealth of useful guidance,” Senator Cash said.
“Now more than ever, we need to understand what is happening in the labour market. The jobs lost during the pandemic will not be the same jobs Australians will return to in the COVIDSafe economy.