the 2024 Occupation Shortage List

Australian Employment Market Update: 2024 Occupation Shortage List

The Australian employment market is facing both opportunities and challenges as highlighted by the newly released 2024 Occupation Shortage List (OSL), previously known as the Skills Priority List. This essential resource offers an in-depth look into the nation’s labour market, pinpointing areas where employers are struggling to fill vacancies and where skill shortages are most acute.

Key Findings from the 2024 Occupation Shortage List

According to the latest OSL data, 33% of occupations (303 out of 916) are currently in national shortage, reflecting a slight improvement from the 36% reported in 2023. However, these shortages still indicate that many critical roles are difficult to fill. Among the hardest-hit sectors in 2024, the top five occupations facing shortages are:

• Aged or Disabled Carers
• Primary School Teachers
• Secondary School Teachers
• Truck Drivers
• Electricians

These positions are vital to both social infrastructure and economic productivity, making their shortages particularly concerning.

Diversity, Age Inclusiveness, and Their Role in Reducing Shortages

The 2024 OSL brings attention to two significant trends: workforce diversity and age inclusiveness. It was found that occupations with heavily gender-skewed workforces, where one gender dominates 80% of the roles, are more prone to shortages. In contrast, industries that boast a more balanced gender representation (at least 20% of both genders) experience fewer shortages, suggesting that increased diversity could play a role in mitigating labour gaps.

Age inclusiveness also emerged as a key factor. Occupations with a workforce that includes at least 30% mature-aged workers show fewer shortages than those where less than 10% of workers are older. This data suggests that employers who are more open to mature-aged workers may have an easier time addressing shortages, particularly as Australia’s population continues to age.

Recruitment Trends: What Employers Are (and Aren’t) Doing

The OSL data revealed that 73% of employers continue using the same recruitment strategies despite ongoing vacancies, and only 1% have opted to adjust wages. This reliance on traditional approaches points to the need for more innovative solutions, such as expanding talent searches beyond traditional channels, enhancing job flexibility, and offering more competitive remuneration packages.

Leveraging the OSL for Improved Recruitment Strategies

In response to the evolving market, the OSL tool has been updated to include a metropolitan shortage rating, offering a more granular view of shortages at a regional and state level. A new skill level filter also allows employers to quickly identify roles that match their specific hiring needs. These enhancements make the OSL an even more valuable tool for employers and recruiters looking to understand the nuances of the current labour market and plan for the future.

How MACRO Recruitment Can Help Address These Challenges

At MACRO Recruitment, we specialize in connecting employers with the talent they need to thrive, especially in a labour market marked by critical shortages. With over 34 years of recruitment experience, our team understands how to tackle these challenges head-on and provide solutions that go beyond traditional recruitment strategies.

Here’s how MACRO Recruitment can assist:

1. Targeting Hard-to-Fill Roles: With shortages in key sectors such as healthcare, education, and logistics, MACRO Recruitment can help employers tap into a broader talent pool. By leveraging our extensive network and using innovative search techniques, we can identify and engage candidates for roles that are traditionally difficult to fill.
2. Diversity-Focused Recruitment: MACRO Recruitment can work with employers to foster gender diversity in their workforces, which has been shown to reduce shortages. We specialize in sourcing talent from a variety of backgrounds and can help organizations create more balanced and inclusive teams.
3. Age-Inclusive Hiring: Understanding the benefits of hiring mature-aged workers, MACRO Recruitment can support employers in promoting opportunities to experienced candidates. We recognize the value older workers bring and can help employers create roles that appeal to this demographic, filling positions that might otherwise remain vacant.
4. Optimized Recruitment Strategies: Given the data that employers are not adjusting wages or altering recruitment strategies, MACRO Recruitment offers tailored solutions, including market-competitive salary benchmarking, creative job advertising, and employer branding. These strategies can enhance an organization’s ability to attract and retain talent in a competitive market.
5. Geographic and Skill-Specific Recruitment: With the OSL’s new metropolitan shortage ratings and skill filters, MACRO Recruitment can provide employers with detailed insights into labour shortages at a regional level, helping them focus recruitment efforts where they are most needed. This localized approach ensures that vacancies in even the most challenging regions can be filled effectively.

Shaping Australia’s Workforce Together

By utilizing the updated tools provided in the OSL and partnering with expert recruitment agencies like MACRO Recruitment, Australian employers can take proactive steps to address labour shortages, foster more inclusive workforces, and future-proof their operations.

MACRO Recruitment is ready to help businesses navigate the complexities of the current labour market and find the right talent to meet their needs.

For more information on how we can support your recruitment needs, contact MACRO Recruitment today and let us help you overcome your workforce challenges.