We expect growth in the global economy to remain subdued out to 2026.
Insight
July 20, 2022
NAB SME Business Insights: Labour shortages Q2 2022
How big an issue are they for SMEs, what are their expectations & how does business think they can be resolved?
Overview
- Signs of a modest improvement in labour shortages among SMEs but still problematic for many businesses, with tight conditions likely to persist in the near term.
- In Q2, around 35% of SMEs said labour shortages had a “very” significant impact on their business in Q2 (37% in Q1), with the number expecting the impact to still be “very” significant in the next 12 months down slightly to 34% (37% in Q1).
- Big falls in shortages in Tourism & Hospitality as borders re-open.
- Increased migrant intake increasingly seen as a solution.
For more information, please see the full report Labour Shortages – The Perspective from Australian SMEs (Q2 2022)
