Australia badly oversupplied with low-skilled workers

The Institute of Public Affairs recently published data estimating that 1.15 million net migrants have entered Australia since the last federal election in May 2022.

This is already 62% higher than the previous record, established during the Rudd-Gillard government’s first term, when net overseas migration was 711,000.

Business Council of Australia chief executive Bran Black recently lambasted Peter Dutton’s proposal to cut net overseas migration, claiming that it would exacerbate skills shortages.

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.