The heads of two of Australia’s biggest listed companies have revealed what’s top of their wish-list for the country’s economy in the run-up to the May 21 election: more people.
Australia urgently needs to ramp up migration levels after the pandemic virtually stopped the influx of skilled workers that are vital to the country’s growth, according to Scott Charlton, chief executive officer of toll-road giant Transurban Group.
His comments were echoed soon after by Susan Lloyd-Hurwitz, CEO of Mirvac, the country’s largest diversified property group. When asked what keeps her awake at night, she was quick to respond: Australian businesses are facing an acute labor crunch in a red-hot economy where the jobs market is the tightest it has been since 2008. The jobless rate is this month expected to fall below 4% for the first time since the early 1970s.
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