‘Economic challenges will echo for years to come’: Migration drought puts the squeeze on NSW

economic challenges will echo for years to come migration drought puts the squeeze on nsw

Sumary of ‘Economic challenges will echo for years to come’: Migration drought puts the squeeze on NSW:

  • A new survey by peak body Business NSW found 73 per cent of the state firms were having trouble finding suitable workers – far higher than in 2019 when the share was 55 per cent..
  • Business NSW chief Daniel Hunter said skills shortages were “impacting businesses of every size, in every industry sector and in every part of NSW.”.
  • The NSW government chief economist, Stephen Walters, said the fall in new migrant and international student arrivals was having “profound real-economy impacts”.
  • The decline in international student numbers caused by border closures has been especially damaging to universities, and many service businesses located nearby, such as hospitality and retail….

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