This article was sourced from Australian Transport News
Key report findings are:
- a forecast average annual growth rate of 33% as industry reports reduced confidence in their capacity to deliver on-time and on-budget
- industry indicates a high confidence of delivering 10-15% annual growth, but a low confidence in delivering growth over 18%.
- demand for plant, labour, equipment, and materials will be two-thirds higher than the previous five years
- over the next three years it is expected there will be: o 120% average growth in demand for materials o 125% growth in demand for equipment
- 140% growth in demand for plant
- the peak of demand for skills is 48% higher than supply. Meeting this demand would require annual growth of 25% over the next two years, which is more than eight times higher than the projected annual growth rate of 3.3%
- 34 of the 50 public infrastructure occupations identified are potentially in shortage.