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Posts Tagged ‘economic conditions’

A new report has found Australia’s migration program is more effectively meeting the needs of employers with a 60 per cent increase in the number of employer-sponsored skilled migrants to Australia in 2008-09 compared with the previous year.

The Report on Migration Program 2008-09 shows that the Rudd Government’s targeted approach to overseas workers is helping to fill critical skills gaps in the healthcare, engineering, financial services and IT sectors.

The Minister for Immigration and Citizenship, Senator Chris Evans, said that changes introduced in January including the Critical Skills List (CSL) of high value occupations and prioritising employer-sponsored or state/territory-sponsored skilled migration visa grants were having a significant impact.

Overseas workers who were sponsored by employers comprised 33 per cent of the 2008-09 skill stream compared to 22 per cent in 2007-08 and 17 per cent in 2006-07.
“A properly targeted migration program will ensure we have the right sized and appropriately skilled labour force to meet Australia’s needs now and into the future as our economy recovers and grows.”

The Government cut the 2008-09 permanent skilled migration intake in March 2009 by 14 per cent from 133 500 to 115 000 and reduced planning levels for the permanent skilled migrant intake in the overall 2009-10 migration program to 108 100 places.

“This is in direct response to the economic slowdown and represents an overall drop of almost 20 per cent on previous planning levels,” Senator Evans said.

“The migration intake in the coming year reflects the economic conditions while ensuring employers can gain access to skilled professionals in industries still experiencing skills shortages such as healthcare and engineering. “The reduction is being achieved through a cutback in places in independent skilled migration rather than in the high-demand employer-sponsored category or in areas in which Australia has critical skills shortages.”

Across all permanent skilled visa categories, the top three occupations for successful applicants were accountancy (6238), computing professionals (3879) and registered nurses (3355) while the top three countries of citizenship under the skill stream were the United Kingdom (23 178), India (20 105) and China (13 927).

“Australia’s migration program is better targeting the needs of Australian employers who are still experiencing skill shortages,” Senator Evans said.

Source  :  www.manmonthly.com.au

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The Reserve Bank of Australia (RBA) left interest rates on hold at 3 percent as predicted.                                                 reserve_bank_400

A  survey by AAP had expected the RBA to leave the cash rate at the lowest since 1960.

Treasurer Wayne Swan said last weekend that it was obvious that rates will rise, while Minister for Financial Services, Chris Bowen, warned yesterday that rates can’t stay low forever.

Some economists believe the first rate rise could come this year, but the general view is that rates will remain on hold until the middle of next year.

In a statement released after the announcement, governor Glenn Stevens said the risk of “severe contraction” in the Australian economy had abated.

“Economic conditions in Australia have been stronger than expected a few months ago, with both consumer spending and exports notable for their resilience,” the statement says.

“Measures of confidence have recovered a good deal of ground.”

The statement adds: “The board’s judgment is that the present accommodative setting of monetary policy is appropriate given the economy’s circumstances.

“The board will continue to monitor how economic and financial conditions unfold and how they impinge on prospects for sustainable growth in economic activity and achieving the inflation target.”

 

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wa small firmsSigns are emerging that the worst of the global financial crisis is over, according to a new survey, and the State’s small businesses are leading the way.
  
The Commonwealth Bank-Chamber of Commerce and Industry quarterly survey of business expectations, released yesterday, shows that economic conditions in WA appear to be stabilising after six months of decline.
  
CCI chief economist John Nicolaou said that the community could “take heart” from the results and that an economic recovery within the next 12 months was on the horizon.
  
“This survey is an important lead indicator of future economic activity,” he said.
  
“While just over half of all businesses remain pessimistic about the next 12 months, that’s come back from around 75 per cent of businesses that were pessimistic last quarter, and at the same time businesses that think conditions will improve (over the same time) has doubled.”
  
Mr Nicolaou said small businesses in service industries were the most optimistic, with 17 per cent of the firms surveyed believing conditions would improve over the next 12 months.
  
Beaumonde Catering owner Mark Dimmitt said he felt small business was better prepared for the slowdown than in other downturns because it had taken time to flow to Australia from the US.
  
He said that though his trade had been affected and was patchy, February was a record month for his 20-year-old business and he expected an upturn over the next year.
  
Woolworths regional manager Brad Bolin criticised “illogical barriers to doing business”, referring to trading hours in WA.
  
Mr Bolin said “conservative estimates” showed the group would need to employ another 300 staff in WA if trading hours were extended to 9pm.
  
“During this time of economic uncertainty there are still companies (looking) to hire more people — these efforts shouldn’t be undone by illogical barriers to doing business,” he said.
  
Coles and Kmart have said they expected to employ another 350 workers if 9pm trading was approved.

Source www.thewest.com.au

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