The Future Workforce Demographic Changes

By 2050, Australia is expected to add around 9 million people, leading to a significant increase in the aging population, specifically those aged 85 and above, which will triple to about 1.5 million. This demographic shift presents a critical demand for a workforce capable of providing adequate care, as half of the elderly population will require daily assistance. Currently, there is a clear shortfall in aged care workers, exacerbated by a retiring workforce that isn't being replaced at the same rate. Consequently, Australia will likely maintain its high migration approach to meet these shortages, as existing trends indicate that skill deficits will only worsen without proactive measures and influxes of workers from abroad.