Workforce Skills

Business NSW is focused on helping employers meet their skills needs and building a resilient, productive and vibrant workforce for NSW. These aims align with a range of policies, programs and initiatives at both a state and federal level. In 2024 we conducted our largest skills survey in over two years.

Key insights from our 2024 State of Skills Report found:

77% of NSW employers reported considerable difficulty in recruiting, or were unable to recruit the people they need (this figure was 81% for employers with 5+ staff).
38% of employers anticipate significant negative impacts due to skills shortages.
4% of respondents fear their business may not survive if current conditions persist.

To ensure NSW does not fall behind, we need to invest in a skilled and capable workforce, build flexibility and resilience into our education and training system, and ensure our priorities for education and training align with the state’s current and future skills needs.

current priority areas for NSW employers:

Meeting skills needs in NSW;
Improving pathways to education and work; and
Ensuring the NSW education and training system is fit for purpose.

current Labour market outlook:

Findings from our Survey of Business Conditions indicate:

The NSW labour market is likely to remain tight in the near term.
An emergence of a ‘multi-speed economy’, with smaller businesses coping with shrinking margins amid tightening economic conditions.
Easing labour pressures in some sectors, but many challenges still remain.