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There was hardly a problem at all, let alone one stretching back years. And just check out those years at the turn of the century when the Senate inquiry into skills shortages was called to urgently examine the 'crisis'. You can clearly see the recession of the early 1990s. Since then, however, skills shortages don't appear to have been much of a problem. This was the era of unfettered greed in the financial sector, which attracted an influx of workers into banking, a huge lift in demand for skills in information technology, a big lift in construction and, of course, the mining boom which saw legions of eastern states workers up-stumps and head west. Occupations experiencing skills shortages.ДЇrom the turn of the century until the global financial crisis, there was an unambiguous rise in skills shortages. While it found shortages in some locations and industries, the graph below illustrates how the 'crisis' largely was a confection. Three years ago, the Reserve Bank tried to figure out exactly why wages weren't growing given we were in the grip of the Great Aussie Skills Shortage. But if those new industries offer higher salaries, potential employees will train up to meet the new demand for the long haul.

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The demand for new skills can cause temporary shortages and a free flow of global talent that can fix short-term problems should be welcomed. The skills crisis that wasn'tДЄs a country's economy grows and evolves, industries become more mechanised, requiring fewer workers, and new industries replace older ones. And the secondВ is that rapid expansion of the population results in a bigger economy and a larger potential market which makes it easier for businesses to make more money without any need for innovation. The first is to depress the price of labour.

Instead, the push has been on to import large numbers of extra workers. That's an academic way of saying this: There's an easy fix to skills shortages -В pay higher wages. Labour, like capital, will gravitate towards the area where it will earn the highest return. Labour markets operate in much the same way as capital markets. Twenty years later, however, and we're told we are still facing the exact same dilemma, particularly when it comes to fruit pickers and restaurant workers, if they are considered key skills.Д«ut here's a thought. The report goes on and on in its examination with a wide range of recommendations. In particular, pastry chefs, mechanics, upholsterers, boilermakers, sheet metal workers and panel beaters were hard to find.ДЄmongst the professions, accountants, a wide range of health professionals, specialised engineers and even secondary school teachers were listed. The Department of Employment noted skills shortages in some tradesВ going back to 1994. The Australian Chamber of Commerce and IndustryВ added that skills shortages had been 'a major concern for Australian industry for most of the past decade.' Why is Australia experiencing its slowest wages growth since World War II? There are countless theories, but many come back to a shift in power between workers and employers.

Submissions from key business lobby groupsВ the Australian Industry Group and the Business Council of AustraliaВ complained of immediate skills shortages, a lack of quality applicants, long-term shortages of key skills, an ageing population and the need to train and upskill existing workers. In 2002, the Howard government ordered an inquiry into skills shortages, labour demand and education requirements to equip the economy for the new millennium. If our education system is so appalling, why do legions of foreign students fight to get a place in our universities and colleges and pay through the nose for the privilege? The RBA has failed for almost six years to get inflation off the mat, into the sweet spot between 2 and 3 per cent, primarily because of weak wages growth.ДЄnd if our workplace skills really are so poor, what does that say about our education system? How could it possibly have failed so comprehensively at a primary, secondary and tertiary level for more than 20 years? Stagnating wages is the single biggest factor behind the Reserve Bank's inability to fire up the economy.

We're told we are still facing the exact same dilemma, particularly when it comes to fruit pickers and restaurant workers.

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