Business NSW is calling on the Federal Government to prevent further skills shortages by ensuring a reasonable number of skilled migrants.

Businesses in rural and regional NSW would be hit hardest by any drop to the 15,536 nominated skilled visa workers that our state welcomed in 2022-23.  

To counter a lack of skills in the bush, Business NSW has called on the Federal Government to ensure the overall number of nominated skilled migrants remains strong.

“International skilled migrant numbers need to remain high if we want to see the NSW economy continue to soar,” Business NSW CEO Daniel Hunter said.

“Many businesses in regional NSW are already dealing with skills shortages, driven by large infrastructure projects vacuuming up many of the available workers.”

The latest data productivity data for the March quarter 2023 shows productivity has dropped back to 2019 levels.

“It takes time to build human capital through education and training, but skilled migrants could be an immediate solution to arrest this downward trend and support economic growth,” Mr Hunter said.

“An increase in the supply of workers could ease wage growth pressures, help contain inflation and ensure the state’s 870,000-plus businesses are nurtured.

“Businesses are already facing a cluster of issues including sharp rises in interest rates, insurance costs and broader inflation.”

In 2022-23 NSW was allocated 15,536 visas across the Skilled Nominated (Subclass 190) visa, Skilled Work Regional (Subclass 491) visa and Business Innovation and Investment Program (BIIP) classes.

“To accommodate these extra workers, state and federal governments must also ensure that there are enough houses for everyone in the community,” Mr Hunter said. 

“Rather than shrinking the economy as a band-aid solution to the housing crisis, the Federal Government must work with all levels of government to address a chronic shortfall in the supply of new homes.”