Skilled Occupation Shortage List Australia: Key Insights & Findings OSL 2024

Recently, Jobs and Skills Australia released the most significant skilled occupation shortages list Australia 2024. This report showcases the areas and sectors precisely where Australian employers are experiencing difficulty finding skilled persons in 2024. 

 

The 2024 Occupation Shortage List (OSL) highlights the significant gap across Australia’s different sectors, which may affect the country’s national and regional labour markets.

 

Before delving into the details, let’s review the summary of key points of OSL 2024.

 

Key Findings and Insights of the 2024 Occupation Shortage List (OSL):

 

• Approximately 33% of occupations (303 out of 916) are currently in national shortages, which is slightly down from 36% in 2023 but 1% higher than the 32% in 2022. 
• The overall occupation rate in OSL 2024 has improved, with the average full rate increasing from almost 65.9% in 2023 to 67.1% in 2024. The median fill rates have also increased from 59.2% to 61.7% over the two OSL periods.
• The distribution of estimated fill rates in the OSL represents fewer occupations with fill rates below 60% and more occupations with fill rates between 60% and 80%. This highlights that there were fewer low-fill occupations in 2024 than in 2023. 

 

What is the Occupation Shortage List (OSL)?

The Occupation Shortage List (OSL), also known as the Skills Priority List, is a point-in-time assessment of the current shortage status of occupations in Australia’s labor market. It provides a list of occupations that are in shortage in Australia and each state and territory. Jobs and Skills Australia has produced this list and rebranded it to match the definition of occupation shortages and the insights it provides. 

 

According to Jobs and Skills Australia, the definition of occupation shortages refers to:

 

“An occupation is in shortage when employers are unable to fill or have considerable

difficulty filling vacancies for an occupation or cannot meet significant specialised skill needs within that occupation, at current levels of remuneration and conditions of

employment and in reasonably accessible locations.”

 

Details of Key Findings and Insights of the 2024 Occupation Shortage List

The 2024 Occupation Shortage List (OSL) highlights the key areas of occupational shortages in Australia and its various states and territories. Here are some of its key findings and insights in the recent report of skilled occupation shortages list 2024. 

 

33% of Occupations Shortages in National Shortage

 

According to the recent report of the 2024 skilled occupation shortage list, there are 33% of occupations in shortage at the national level. However, there is a slight improvement (previously it was 36%), but there is a serious concern to fill this gap. These occupations are in shortage: 303 out of 916 total.

 

Gender and Workforce Diversity

Its recent report shows a notable correlation between gender representation and occupation shortages. Certain gender-skewed occupations where both men and women make up at least 80% of the workforce are more likely to face shortages. On the other hand, occupations with approximately 20% representation from both men and women tend to avoid shortages. Here, the workforce diversity might be an effective strategy to ease labor market pressure. 

 

Age Distribution and Labour Shortage

The 2024 skilled occupation shortages list report also addresses the age distribution among various occupations. There are certain age groups that are highly affected by the labor shortage in Australia. So, there must be age-inclusive employment practices and effective strategies to address and overcome occupational shortages, specifically aging populations. Furthermore, the government should encourage the inclusion of old workers to allow organizations to leverage their experience, skills, and valuable contributions to the workforce.

 

Employer Recruitment Strategies

Additionally, employers are experiencing challenges in filling vacancies, with some adjusting their recruitment strategies to address these shortages. According to the 2024 OSL report, approximately 73% of employers continued to advertise for the required positions in the same places using the same methods. They have been using this strategy even though the vacancies were unfilled for an extended period. Only 1% of employers adjusted the pay package to attract skilled workers. 

 

Labour Demand Indicators

The Australia skilled occupation shortage update 2024 also indicates notable changes in labour demand indicators. For example, the Internet Vacancy Index (IVI) revealed an 18.2% decline in monthly online job advertisements, which is an indicator of a reduction in labor demand.

This recruitment difficulty remains a challenge, especially for high-skilled occupations, which may experience many hurdles as compared to low-skilled roles. The number of vacancies has increased, more specifically in metropolitan areas, which highlights a growing demand for workers in urban centers. 

 

Fill Rates

 

According to the 2024 OSL key findings and insights report, the average occupation fill rate for advertised vacancies has significantly increased. In June 2024, the fill rate rose to 69.5%, compared to 59.4% in June 2023. This also suggests there has been some improvement in addressing job vacancies in Australia.

 

Top 20 Largest Employing Occupations Shortages (OSL) in the 2024

In the 2024 Occupation Shortage List (OSL), various largest employing occupations are included in the national shortages. These top 20 occupations shortages reflect a wide range of industries which are facing difficulty in filling the vacancies, mainly in sectors like  health, education, construction, and other professional services sectors.

However, the top 20 largest employed occupation shortages include:

 

ANZSCO Code	Occupations
423111	Aged or Disabled Carer
241213	Primary School Teacher
241411	Secondary School Teacher
733111	Truck Driver (General)
341111	Electrician (General)
421111	Child Care Worker
131112	Sales and Marketing Manager
331212	Carpenter
351311	Chef
321211	Motor Mechanic (General)
271311	Solicitor
323211	Fitter (General)
133111	Construction Project Manager
261313	Software Engineer
391111	Hairdresser
253111	General Practitioner
133112	Project Builder
261312	Developer Programmer
322311	Metal Fabricator
423313	Personal Care Assistant

 

Top 5 Occupation Employment Shortages

This occupation list contains 916 occupations from AZNCO catalogue version 2022. In the year 2024, the Top 5 employing occupations in shoratges include the following occupations as well as:

 

1. Aged or Disabled Carers (ANZSCO 423111)
2. Primary School Teachers (ANZSCO 241213)
3. Secondary School Teachers (ANZSCO 241411)
4. Truck Drivers (ANZSCO 733111)
5. Electricians (ANZSCO 34111)

 

Note: These top 5 occupations account for 8.9% (824,973 people) of total employment in the 2024 Occupation Shortages List sectors. 

 

The 2024 skilled Occupation Shortages List highlights the current status of the labor market and breakdown of occupations.

Let’s have a look at both of them one by one.

 

What is a High-Level Breakdown of Occupations?

 

There are 8 newly classified occupations in shortage as compared to 2023. On the other hand, 37 occupations moved out of the status of shortages, more specifically in the Skill Level 4 category, such as machinery operators and drivers. 

 

• In professional groups, 143 occupations, which is 48% overall, are in shortage. especially health, engineering, teaching, and ICT.
• Other 102 occupations are in the major groups of technicians and trade, which is approximately 35%.
• Other remaining 50 occupations in shortages in 2023 and 2024 OSL contain community and personal service workers, machinery operators, and drivers.
• However, 10 occupations assessed as experiencing regional shortages are being impacted regionally, representing only 1% of overall total occupations. 

 

What is the Current State of Labour Market in Australia?

Throughput in the years 2023-2024, the Australian labour market has shown resilience, although there are some emerging signs of softening. By June 2024, the unemployment rate had gradually increased to 4.1% from a historic low percentage of 3.5 in June 2023. Although it remains low as compared to the past decades. Moreover, the annual growth rate of full-time employment slowed down from 4.2% in June 2023 to 1.2% in June 2024.

 

The Role of the OSL 2024 in Guiding Employers and Job Seekers

The 2024 occupation shortages list provides a comprehensive overview of the current state of the labor market in Australia as well as highlighting the breakdown in occupations. The OSL 2024 serves as a skilled occupation shortage list and a guide to understanding both improvements and ongoing challenges. 

 

In the key insights and findings of the OSL 2024 report, there has been a significant increase in the occupation fill rate, which is a positive sign that indicates the progress in addressing job vacancies in Australia. However, the persistent shortages in recruitment, more specifically in highly skilled sectors, underscored the dire need for continued efforts to attract and retain skilled workers across the world.

 

Further, this Occupation Shortages Lists 2024 plays the role of an essential guide to understand the labour market trends so that they can make wise decisions. On the other hand, it offers valuable insights for skilled workers to find better opportunities in the Australian labour market. 

 

Conclusion

The Australian labor market continues to evolve, so staying informed through different resources, including the Skilled Occupation Shortage List 2024, is essential. The above-given key findings and insights can help employers and job seekers better align their strategies to meet the demands of Australia’s changing and competitive job market. 

 

Further, for professional guidance, consult with a migration agent to navigate the complexities of pathways through which you can secure your opportunity and fill the gap in the most significant occupation shortages. For this purpose, book an appointment with our registered migration agent, Nasir Nawaz, at the Migration to learn about the possible pathways for you. 

 

For expert guidance, book an appointment now!