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Prof. The Hon. Stephen Martin - CEDA - Australia’s Skills Shortages – How will this impact the nation’s future economic growth?

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Prof. The Hon. Stephen Martin delivered the presentation at the 2014 Skilling Australia Summit. …

Prof. The Hon. Stephen Martin delivered the presentation at the 2014 Skilling Australia Summit.

The 8th Annual Skilling Australia Summit considered the current policy framework and examined state and national challenges for skilling the Australian economy at this time. Current skilled shortages within industry groups were addressed and debated.

For more information about the event, please visit: http://www.informa.com.au/skillingoz14

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  • 1. Australia’s Skills Shortages: How will this impact future economic growth? 8th ANNUAL SKILLING AUSTRALIA SUMMIT Novotel Hotel, Melbourne MONDAY 30 June 2014 Professor the Hon. Stephen Martin Chief Executive, CEDA
  • 2. Themes !  Drivers of Australia’s future economic growth !  What are the future jobs and what skills are needed? !  Partnerships and innovation
  • 3. Australian Economy - State of Play !  Terms of Trade have been at historically high levels but are now coming off !  Mining investment phase over, production phase ramped up, productivity gains !  Exchange rate !  Unemployment rate !  Restructuring of traditional industries !  World post-GFC !  Federal Government Economic Strategy
  • 4. Innovation, skilling and education - drivers of competitiveness and productivity and future jobs
  • 5. FUTURE JOBS AND SKILLS !  Australia Adjusting: Optimising Australia’s prosperity CEDA report !  Services such as healthcare, aged care, finance !  Manufacturing !  CEDA Report Advanced Manufacturing: Beyond the production line !  High skills, low employment, global value chain !  Innovation and partnership opportunities !  Government policy on education and training following from the Budget !  Gone for a Gonski !  Higher Education - fee deregulation/international students !  Apprenticeships !  Vocational Education !  457 Visa
  • 6. Created in Australia !  ‘Made in Australia’ likely to be replaced by ‘Invented in Australia’ or ‘Created in Australia’ !  Skill requirements - STEM !  Branding Australia
  • 7. New technologies have created three game-changers Cloud MobileAnalytics Social Systems of insight Predict and act Sense and respond Systems of record Systems of engagement
  • 8. Conclusion !  Australia’s economy has been strongly driven by mining but real opportunities in the near future are in the services sector, with innovation, skilling and education priorities !  Digital disruption however means the next-generation future will require vastly different skills sets and the nature of work will be different as a consequence !  Increased investment in education and skills- science, research and technical skills- is vital !  Innovation must be a key driver to ensure we can capitalise on growth sectors that can and will contribute to Australia’s future prosperity !  Government and business partnerships and strategies vital !  Global competitiveness and productivity will only be achieved, and jobs for the future, if all these elements come together.
  • 9. THANK YOU