When we discuss the need to generate employment, we just cannot forget the fact that regular and sustainable employment generation within any economy is the foundation of a country’s economic output and allows people to support themselves, their families, and their communities.
Moreover, the overall labor market resilience and adaptability are critical for absorbing and adapting to economic shocks and capitalizing on new opportunities. Simultaneously, labor productivity is a necessary condition for rapid growth in output, employment, and wages.
The very need to generate regular and sustainable employment is also quite crucial to overall well being of a community and is directly proportional to physical and mental health of the people.
Australia’s unemployment rate has equaled its lowest level since 1974 thanks to the government’s economic strategy. Our labour market has outperformed that of all other major advanced economies worldwide.
Australia is prepared for a sustained period of full employment thanks to ongoing investments in skills and support for businesses and workforce participation.
The unemployment rate is anticipated to drop to 3.34% in 2022, which would be the lowest level in nearly 50 years and nearly 3 percentage points below the Budget forecast from two years prior.
While the pandemic altered workforces around the world, it gave job seekers more power in Australia.
As your local Councillor, I’ve always been passionate about ensuring that our community supports new job opportunities. The Hills Shire, which has a population of over 183,791 people, supports 67,189 jobs and has an annual economic output of $24.132 billion.
In addition, the retail sector in The Hills Shire remains the largest employer in the community. Retail trade employs an estimated 12,595 people and is expected to grow rapidly in the coming years.
At the outset, I personally support local small businesses because of their inherent ability to create jobs for local residents.
These local neighborhood businesses create jobs in the neighborhood and stimulate economic development in smaller geographic areas. Small businesses are more inventive and frequently come up with original answers to customers’ problems. Small businesses create meaningful jobs with higher job satisfaction, which boost local economies by bringing growth and innovation to the area where they are based.
I believe that our economy is powered by the retail sector. It is a place where young students find part-time work, learn new skills, and become acquainted with the complexities of running a business. These enriching experiences help them become future owners of small businesses while also creating job opportunities.
With record numbers of Australians enrolling in trade apprenticeships, we are continuing to invest in skills and preparing our workforce for jobs of the future that will guarantee more job opportunities for generations to come.
However, there is still work to be done, and the next phase of our strategy will guide Australia’s robust economy into the future.