Experts say migration key to Australia's growth as population ages

The government's Intergenerational Report suggests a significant proportion of Australians will age out of the workforce in the coming years.

Attendees are seen during the graduation of 24 refugees who have completed internships with Service NSW, Sydney, Tuesday, June 20, 2023. (AAP Image/Bianca De Marchi) NO ARCHIVING Source: AAP / BIANCA DE MARCHI/AAPIMAGE

KEY POINTS

• Business groups and economists are urging the government to look to migration as a solution for the job vacancies those retirements will create.
• Economists and groups like the Business Council of Australia are among those urging the government to look to migration to fill the vacancies those retirements will create.
• National Cabinet recently announced a major policy to address supply, with give states and territories to receive up to three billion dollars if they reach an updated target of building one-point-two million new homes over the next five years.