SA鈥檚 labour force participation likely to worsen
Current pressures on South Australia鈥檚 labour force and housing markets are likely to worsen over the next few decades due to the rapid ageing of the population, according to economists from the University of 新浪彩票鈥檚 SA Centre for Economic Studies (SACES).
The latest SACES report reveals that South Australia will face severe labour force shortages through to at least 2032/33, resulting in constraints on industry expansion and economic growth.
鈥淪outh Australia鈥檚 labour force participation rates remain below the national averages, largely due to the higher proportion of the population aged 65 years or older,鈥 says SACES Honorary Research Fellow, Associate Professor Michael O鈥橬eil.
鈥淭he major source of labour force growth in South Australia, about 42.4 per cent, came from the population aged 25 to 39 years, likely reflecting the surge in net overseas migration (NOM) pre- and post-COVID restrictions.
鈥淭his of course reflects the fact that the majority of migrants tend to be younger.鈥