Why does Canberra want an additional 20,000 skilled workers to Australia next year? Are they needed? Why can't we train our local workforce to higher skills? Is a forecast fall in real estate values resusitated in part with importing skilled workers dollars in the home market?
Australia would benefit from more skilled workers - if our economy was likely to continue growing. We have the option to consider training local workers or import lock stock and barrel? An ACTU Background Paper in July 04 predicted a skilled workers shortage of 130,000 in the next five years. The number of skilled worker shortage was predicated on an expanding economic model. Today the economy reveals itself under stress, a faltering global economic landscape has been kept under wraps by Canberra, a complicit ALP and major media so the election could be gotten out of the way.
China currently invigorates demand for Australian raw resources. China's demand will not sustain as its growth is reliant on exporting container after container of goods to USA. China is experiencing domestic problems of insufficient energy to drive their development, growing environmental pollution and emerging currency inflation will hamper growth.
The American economy is in decline, although most are hazy over this unfolding time bomb. A weakening US dollar and resultant loss in purchasing power for US consumers, a falling residential property market looms at the corner. The USA has been devastated in shedding decent manufacturing jobs, replaced with minimum wage jobs without health insurance benefits. Economic stalling numbers, horrendous current account and trade debt has eroded the standard of living for Americans, with the worst yet to hit. The consequences will be negative for Australia's economy. Our standard of living will be reduced as the world's number one consumer market, USA turns fallow.
Unprecedented unpayable national debt in USA & Australia, unpayable global debt levels now relegate the greenback and eventually the Aussie dollar as basket cases. Couple these global stressors to the predicted shortfall of Australia's sufficiency in oil reserves, merging with high costs of importing oil. The factors as drivers behind increasing skilled worker immigrant numbers into Australia is the strategic shift to hold real estate values intact a while longer as the bubble leaks.
As interest rates climb mortgage payments will be under pressure. Additional skilled workers trained from within Australia will not save the real estate market. Canberra sees it will get a reprieve importing skilled workers. Resumption of immigration is 20,000 home buyers and their need to equip the home wouldn't go astray? Personal assets moved to Australia by a skilled worker increase and invested into homes will defer the sound of air hissing from the real estate market?
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