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Skills shortages impact on the WA economy: ABS
The skills shortage in Western Australia was a significant contributor to the fall in the state's economic growth from 8% in 2003-04, to 3% in 2004-05 at the height of the shortage.
The impact of the skills shortage influenced a deceleration in business investment growth (from 28% in 2003-04 to 11%), and an increase in wages and consumer prices.
With skills shortages appearing to have constrained growth in the Western Australian economy, the Australian Bureau of Statistics released a special article today examining the factors driving the state's skills shortage and the impact it has had on the economy, in the publication Western Australian Statistical Indicators.
The article explains there are three key reasons for the skill shortage:
The March 2006 issue of Western Australian Statistical Indicators also includes a feature article on recent expenditure patterns of Western Australian households.
Western Australian Statistical Indicators (cat. no. 1367.5) also contains a range of other information on the state's economy.
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