Australia will soon complete its target of achieving the target of 1 million jobs. The Government of Australia has revealed this report. The compilation was jointly done by the Department of Home Affairs and Treasury. The reports further states that the high level of immigrations have been important factor in the expansion of workforce in Australia.
The freshly arrived immigrants have created 65 percent of job creation in the last 5 years. This is quite significant as Abbott pledged to create 1 million jobs back in 2013.
Further, ABC NET AU quoted that decreasing immigration to Australia will cause losses worth several billions to the federal budget. Also, there will be decrease in the growth of job market and standard of living in Australia, explains the report.
Report further revealed that the immigration intake of 2014-15 will contribute around 10 billion$ to the budget in the coming 50 years. Immigrants contribute to the Australian economy by paying taxes to the government of Australia. This is all because of the existing immigration policies that favor working age skilled immigrants that contribute to the economy, the report adds.
The higher the immigration per person will lead to the better GDP thus resulting in positive effects on the standard of living. Decreasing immigration will contract the Australian workforce, warns the report.
The diverse advantages of the high immigration intakes to Australia has been revealed at that time when the Coalition is having intense debate over the rate of immigration. Additionally, the growing concern towards increase population growth are also being expressed in this report.
Australia currently intakes approximate 190,000 Permanent Residents annually. Majority of them are skilled migrants who get Australia PR.
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