A survey of more than 400 Companies across Australia has revealed that shortage of skilled professionals can have an impact on the economic growth in the coming days. The survey was conducted by the Australian Industry Group and Deloitte.

Almost 35% of the Companies are extremely worried that shortage of skilled employees will have an impact on their business and this concern increased to 47.5% for the year 2015.

Experts feel that shortage of skilled professionals is the biggest threat to the growth of the Australian economy and they feel that the Government needs to take steps to address this issue.

Most of the Companies hoarded their skilled employees during the economic recession and this ensured that unemployment increased only marginally to reach 5.8%. As per the latest figures the rate of unemployment has reached 5.1%.

Many experts feel that if the unemployment increases in the coming days it will lead to a lot of pressure on the wages and they will surely increase in the coming days. They feel that it can also lead to an upward revision in the interest rates from the Reserve Bank of Australia.

Almost two-thirds of all businesses found it extremely difficult to find suitable employees to fill vacancies in the last six months and almost 59% feel that the lack of specialists is having an impact on the growth of their business.