Employers across Australia are unable to fill job vacancies, which is undermining productivity and economic growth.
In May 2022 there were 480,000 vacant jobs across Australia, representing enormous lost productive capacity. There are many factors driving high vacancies, including the lack of migration, under engagement of Australian women in the labour market, and inadequate investment in skills and training but housing also plays a critical role in the efficient operation of the labour market.
This special Impact Economics analysis of five regional economies commissioned by Everybody’s Home has shined a light on the connection between increased rents, low vacancy rates and unfilled job vacancies.
The study looked at housing in the Queensland Sunshine Coast, NSW South Coast, Launceston-North East Tasmania, SA Fleurieu Peninsula and Geelong/Surf Coast in Victoria.
Read ‘Housing Critical: The role of housing in solving critical skill shortages across the regions’ here.