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The estimated shortage of 10,000 workers across the ACT could double over the subsequent 3 years when big numbers of infant boomers retire.

Public service job cutbacks in Tuesday week's Federal budget, tipped to price Canberra up to 3000 positions, is likely to have tiny impact on the capital's worsening capabilities drought.

These days, The Canberra Times begins a 3-portion series on the extent of the ACT abilities drought, which is worse here than anywhere else in Australia, and what could be accomplished to repair it.

ACT Chamber of Commerce chief executive Chris Peters mentioned business growth in the territory had been stalled for 18 months due to insufficient workers.

"About two years ago employees shortages were No13 on companies lists of concerns. It really is been No1 for about 18 months, so it is the major impediment to company development."

The ACT Skills Commission and the chamber's analysis shows the ACT will continue to be hardest hit of all Australian states and territories from a shortage of skilled and unskilled workers.

Access Economics research shows the ACT's population is biased towards the 45 to 59 age group.

The demographics report compiled for the Capabilities Commission says the retirement timing of this age group and specially these aged 50 to 54 will have an even higher influence on the ACT workforce than it will nationally.

Access Economics expects increasing labour force participation prices up to 2010, with a reversal of that trend from 2010 to 2015 and a sharp reduction in participation right after then because the major part of the baby boom generation will have reached the age of 65.

ACT Skills Commission chairman Derek Volker warns that today's delays will turn out to be tomorrow's disaster when as well few individuals are accessible to look following elderly folk.

"It is not a expertise issue, it is a lot more a people dilemma and if we don't do one thing about it, it could turn into a crisis not also far down the track."

Property Support Service ACT, a not-for-profit organisation that offers in-residence support to the elderly and frail aged, could spot 20 men and women instantly in its stretched ranks of carers.

Canberra employers scouring the nation and overseas for personnel are competing with the remainder of the western planet which is suffering a skills drought.

Mr Peters said three elements contributed to the territory's outstanding worker shortage:

Getting both the lowest unemployment (two.4 per cent) and highest participation prices in Australia, which meant there weren't too numerous keep-at-home mothers, or unemployed, to fill job vacancies

The ACT and Adelaide had Australia's two fastest aging populations and

Older public servants in a former superannuation scheme had to retire just before 55 to maximise their superannuation rewards.

"Canberra has the highest percentage of public servants than anywhere in Australia and they retire a decade earlier than the rest of Australia." Mr Peters stated Federal spending budget cuts in two weeks were expected to result in a net loss of 1000 people from the Commonwealth Public Service.

At finest those leaving would have wide-ranging experience.

"It depends on what the mix is I count on the mix will be pretty broad, which would be extensively welcomed by the company neighborhood, but all of these won't resolve our issue."

Shortages are in all sectors, from engineering, wellness, trades, services and construction. Multinational construction company Bovis Lend Lease said employers had been competing with unprecedented constructing in the booming Middle East nations, and project directors could command salaries of up to $300,000.

Hays senior regional director for Canberra Jane Donnelly mentioned financial controllers and managers on salaries of up to $one hundred,000 and $130,000 had been in demand following the meltdown of international monetary markets last year.

"Within the banking sector they are far much more conscious of the risk related with particular products, they are in search of individuals with considerable danger analyst-variety expertise."

Mr Peters said the shortage meant people had been finding the service in areas like restaurants, hairdressing salons and workshops slower. "If you have an accident driving property tonight in your automobile, normally your vehicle will sit on the panel beaters shop floor for two weeks until they can get to it. That's now. In 3 years time that [timeframe] will double." website