A Roadmap to Full Employment: Building a Dynamic Labor Market

TLDRThe full employment white paper outlines a plan to achieve secure and fairly paid jobs for everyone who wants one, with a focus on training, lifelong learning, and removing barriers to work. The government aims to tap into untapped potential in the economy and address roadblocks for both employers and employees. The paper emphasizes the need for skills in digital technology, care economy, and clean energy workforce. A new migration strategy will also be implemented to address outdated skills lists. The government recognizes the importance of overcoming disadvantage and ensuring that everyone has the opportunity to benefit from economic change.

Key insights

📝Full employment is a central objective of Economic Policy, aiming for a secure job for everyone who wants one and a qualified worker for every employer.

💼Current unemployment rate is 3.7% in Australia, but there is still untapped potential with around 3 million Australians not working or wanting to work more hours.

💡Key industries with job growth include digital technology (21% increase), care economy (22% increase), and clean energy workforce (30% increase) over the next 10 years.

🗺️A new migration strategy will address the entry of temporary migrants based on outdated skills lists and ensure the country attracts the highest skilled workers needed for productivity.

🔑Overcoming barriers to work, particularly for disadvantaged individuals and communities, is a central concern of the employment white paper.

Q&A

What is the goal of the full employment white paper?

—The goal is to achieve secure and fairly paid jobs for everyone who wants one, along with qualified workers for every employer.

What are the key industries for job growth in the coming years?

—Digital technology (21% increase), care economy (22% increase), and clean energy workforce (30% increase) are expected to have significant job growth.

How will the new migration strategy address skills lists?

—The strategy will update and adapt the skills lists for temporary migrants to ensure the country attracts the highest skilled workers needed for productivity.

What is the government's focus on overcoming disadvantage?

—The government recognizes the importance of creating opportunities for disadvantaged individuals and communities to benefit from economic change and is committed to addressing barriers to work.

What is the current unemployment rate in Australia?

—The current unemployment rate in Australia is 3.7%.

Timestamped Summary

00:00During World War II, there was a job for almost everyone who wanted one.

00:27Full employment became a key objective of Economic Policy, ensuring a secure job for everyone who wants one.

00:41The current unemployment rate in Australia is 3.7%, which has been below four since April lows.

00:55Around 3 million Australians are not working or want to work more hours, presenting untapped potential.

01:11Digital technology jobs are expected to grow by 21%, care economy jobs by 22%, and clean energy workforce jobs by 30% over the next 10 years.

01:29A new migration strategy will address the entry of temporary migrants, updating the outdated skills list for attracting highly skilled workers.

02:13The government is committed to overcoming barriers to work, particularly for disadvantaged individuals and communities.

06:59The employment white paper aims to create opportunities for everyone to benefit from economic change and ensure a secure job for all.

Browse more