Australia is facing acute skills shortages that could restrict the nation's economic growth.

This is the opinion expressed in a new study by the Australian Industry Group and Deloitte, which claims a substantial talent gap has opened up in the country.

According to the report, this situation will intensify, posing additional problems for enterprises in terms of the delivery of products and services in the future.

Of the more than 400 company chief executives surveyed, over one-third (34.7 per cent) predict skills shortages will have a negative effect on their operations this year and 47.5 per cent believe this will be the case in five years' time.

Heather Ridout, head of the Australian Industry Group, remarked: "Of particular concern is that shortages are intensifying in occupations associated with manufacturing, construction and engineering, which are pivotal to the Australian economy."

Latest figures have shown that there was an increase of 45,900 in the number of jobs in Australia during June 2010, pushing the unemployment rate down to 5.1 per cent.

Posted by Lee Thrace