05 June 2008
Drops in Australian investment blamed on shortage of skilled workers
The Australian economy is slowing down and taking the rate of investment with it, but this is “just what the doctor ordered”, the Age newspaper reported today.
In response to an unwavering Australian economy, the Reserve Bank has raised interest rates again to keep inflation rates under control.
"There are worrying things in yesterday's data. Investment has slowed more rapidly than consumer spending, probably reflecting the shortage of skilled workers rather than lack of investment demand," the newspaper said.
However, with the current unemployment rates sitting at the lowest they have been for over three decades, the Australian economy is predicted to maintain its strength and continue to prosper.
Australia is actively recruiting skilled migrants to fill the shortages across many industries. Currently, the Queensland, South Australian and Victorian governments have representatives touring the UK to promote skilled migration to Australia.