November 7th, 2024 at 05:19 am
Australia Skilled Occupation Shortage List | Key Insights & Findings
Jobs and Skills Australia has produced a list of the most significant skilled occupation shortages in Australia by 2024. This research identifies the regions and sectors where Australian firms are having trouble hiring competent workers in 2024.
The 2024 Occupation Shortage List (OSL) reveals a major deficit in Australia’s various sectors, which may have an impact on the country’s national and regional labour markets.
Before we get into the details, let’s go over OSL 2024’s important points.
Key Findings and Insights From the 2024 Occupation Shortage List (OSL):
Approximately 33% of occupations (303 out of 916) are currently experiencing nationwide shortages, a little decrease from 36% in 2023 but 1% more than 32% in 2022.
The overall occupation rate in OSL 2024 has increased, with the average full-time rate rising from almost 65.9% in 2023 to 67.1% in 2024. The median fill rate has likewise risen from 59.2% to 61.7% throughout the two OSL periods.
The distribution of predicted fill rates in the OSL shows fewer professions with fill rates below 60% and more occupations with fill rates between 60% and 80%. This shows that there were fewer low-fill occupations in 2024 than in 2023.
What is the Occupation Shortage List?
The Occupation Shortage List (OSL), also known as the Skills Priority List, is a current evaluation of occupation shortages in Australia’s labor market. It is a list of jobs that are in short supply in Australia and each state and territory. Jobs and Skills Australia created this list and redesigned it to better reflect the notion of occupation shortages and the information it offers.
Jobs and Skills Australia defines profession shortages as follows:
“An occupation is in short supply when companies are unable to fill or have significant difficulty filling vacancies for an occupation or cannot fulfill considerable specialized skill shortages within that occupation, at present levels of salary and conditions of jobs and in easily accessible locales.
Key Findings and Insights from the 2024 Occupation Shortage List
The 2024 Occupation Scarcity List (OSL) identifies the primary areas of occupational scarcity in Australia and its various states and territories. Here are some of the important findings and thoughts from the latest report on skilled profession shortages in 2024.
33% of Occupation Shortages in the Nation
According to the most current assessment on the 2024 skilled occupation shortage list, 33% of occupations are in scarcity at the national level. However, there is a modest improvement (previously 36%), but there is a major need to close this gap. These occupations are in short supply: 303 out of 916 total.
Gender and Workplace Diversity
Its most recent analysis reveals a significant link between gender representation and occupation shortages. Certain gender-skewed occupations, in which both men and women account for at least 80% of the workforce, are more likely to have labor shortages. On the other hand, occupations with roughly 20% representation from both men and women are less likely to experience shortages. Workforce diversity could be an effective technique for alleviating labor market pressure.
Age Distribution and Labor Shortage
The 2024 skilled occupation shortages list report also looks at the age distribution across various occupations. Certain age groups are particularly affected by Australia’s labor shortage. As a result, age-inclusive work policies and effective solutions must be implemented to address and overcome occupational shortages, particularly among aging populations. Furthermore, the government should support the inclusion of older workers so that businesses can benefit from their experience, abilities, and vital contributions to the workforce.
Employer Recruiting Strategies
Additionally, firms are having difficulty filling openings, with some changing their recruitment techniques to address these shortages. According to the 2024 OSL study, around 73% of companies continued to advertise for the required employment in the same locations and with the same tactics. Even though the vacancies remained vacant for an extended period of time, they continued to use this method. Only 1% of firms modified their pay packages to recruit talented personnel.
Labour Demand Indicators
The Australia skilled occupation shortage update 2024 shows major changes in labour demand indicators. For example, the Internet Vacancy Index (IVI) reported an 18.2% decrease in monthly online job adverts, indicating a drop in labor demand.
This recruitment issue remains a challenge, particularly for high-skilled occupations, which may face numerous obstacles as compared to low-skilled roles. The number of open positions has increased, particularly in metropolitan areas, indicating a growing demand for workers in urban centers.
Fill rates
According to the 2024 OSL major findings and insights report, the average occupation fill rate for advertised positions has risen significantly. In June 2024, the fill rate increased to 69.5% from 59.4% in June 2023. This also shows that there has been some progress in filling employment vacancies in Australia.
Top 20 Largest Employing Occupation Shortages (OSL) by 2024
The 2024 Occupation Shortage List (OSL) includes national shortages for several of the largest employing occupations. These top 20 occupation shortages indicate a diverse spectrum of industries that are having trouble filling vacancies, particularly in health, education, construction, and other professional services sectors.
However, the top 20 greatest employment occupation shortages are:
- 423111 – Aged or Disabled Carer
- 241213 – Primary School Teacher
- 241411 – Secondary School Teacher
- 733111 – Truck Driver (General)
- 341111 – Electrician (General)
- 421111 – Child Care Worker
- 131112 – Sales and Marketing Manager
- 331212 – Carpenter
- 351311 – Chef
- 321211 – Motor Mechanic (General)
- 271311 – Solicitor
- 323211 – Fitter (General)
- 133111 – Construction Project Manager
- 261313 – Software Engineer
- 391111 – Hairdresser
- 253111 – General Practitioner
- 133112 – Project Builder
- 261312 – Developer Programmer
- 322311 – Metal Fabricator
- 423313 – Personal Care Assistant
Top 5 Occupational Employment Shortages
This occupation list includes 916 vocations from the AZNCO catalogue version 2022. In the year 2024, the Top 5 employing occupations in shoratges will contain the following occupations:
- Aged or Disabled Carers (ANZSCO 423111)
- Primary School Teachers (ANZSCO 241213)
- Secondary School Teachers (ANZSCO 241411)
- Truck Drivers (ANZSCO 733111)
- Electricians (ANZSCO 34111)
Note that the top five occupations account for 8.9% (824,973 individuals) of total employment in the 2024 Occupation Shortages List sectors.
The 2024 Skilled Occupation Shortages List describes the current state of the labor market and the breakdown of occupations.
What is a high-level breakdown of occupations?
In comparison to 2023, 8 newly classified jobs are in scarcity. On the other hand, 37 vocations, notably those classified as Skill Level 4, such as machinery operators and drivers, were removed from the shortage list.
- In professional groupings, 143 vocations, or 48% of the total, are in short supply. Health, engineering, education, and ICT are particularly important.
- The remaining 102 vocations are primarily classified as technicians and trades, accounting for around 35%.
- The remaining 50 jobs in shortage in 2023 and 2024 OSL include community and personal service workers, machinery operators, and drivers.
- However, ten occupations identified as having regional shortages are being impacted regionally, accounting for only 1% of all jobs.
What is the current state of Australia’s labour market?
The Australian labor market has shown stability in terms of throughput from 2023 to 2024, despite some apparent symptoms of slowing. By June 2024, the unemployment rate had gradually risen to 4.1% from a historic low of 3.5 percent in June 2023. However, it remains low when compared to previous decades. Furthermore, the annual growth rate of full-time employment decreased from 4.2% in June 2023 to 1.2% in June 2024.
The Role of the OSL 2024 in Advising Employers and Job Seekers
The 2024 occupation shortages list includes a detailed overview of the current situation of Australia’s labor market, as well as a breakdown by occupation. The OSL 2024 is a list of skilled occupation shortages as well as a resource for understanding both progress and ongoing issues.
According to the major insights and findings of the OSL 2024 research, there has been a significant increase in the occupation fill rate, which is a positive sign of progress in addressing employment openings in Australia. However, continuing recruitment shortages, particularly in highly skilled sectors, highlighted the critical need for ongoing efforts to attract and retain competent individuals around the world.
Furthermore, these Occupation Shortages Lists 2024 serve as a crucial resource for understanding labor market trends and making informed judgments. On the other hand, it provides useful insights for talented individuals seeking better prospects in Australia’s job market.
Conclusion
The Australian labor market is constantly changing, therefore maintaining up-to-date with various resources, such as the Skilled Occupation Shortage List 2024, is critical. The major facts and insights presented above can assist employers and job seekers in better aligning their plans to meet the demands of Australia’s dynamic and competitive job market.
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