Australian universities play a crucial role in educating the skilled workforce required by the nation. As per the reports released by Labour Market Update on May 30, more than 90% of the employment growth in 2022 will take place in professions requiring tertiary qualifications.
On the other hand, two-thirds of the total employment growth rate was observed in Skill Level 2 to Skill Level 4 jobs. Universities Australia, the leading authority for the sector, commented on the results of this report by stressing the crucial role that universities play in educating skilled workers to address the skills gap in the Australian labour market.
According to Universities Australia Chief Executive- Catriona Jackson, university degree holders contribute to the economy of Australia, thus strengthening its foundation. She continued that universities have to produce more skilled workers and promote economic development and prosperity. More than half of the one million projected future jobs will require candidates with a university degree.
The Labour Market Update further reveals employers faced difficulty filling vacancies for the profile of technicians and trade workers. Overall, 49 percent of positions were filled in March 2023 for:
- Construction Trades Workers (28%)
- Electrotechnology and Telecommunication Trades Workers (35%)
- Automotive and Engineering Trades Workers (35%)
Since the country is facing a problem of labour shortages, Australian authorities have planned to take action. One factor to be considered while fulfilling the shortage was the extension of the post-study work visa. Thus providing new opportunities for international students in Australia.
Under the Temporary Graduate Work Visa (subclass 485), international students who have graduated from an Australian university have the right to stay in the country and work for a period of time.
Beginning in July 2023, students enrolled in courses designed to solve labour shortages will be allowed to stay in Australia for four years instead of two. Furthermore, master’s and doctoral students can continue for five and six years, respectively, instead of three and four years.