Several new measures that focus on building future skills have been released to improve job prospects and support people into work.
The recent announcement in the Federal Budget aims to help Australians get back into the workforce, providing them with the opportunity to gain skills and knowledge in industries that are either booming or facing a skills shortage. The Government aims to drive Australia’s unemployment rate below 5% and enable businesses to drive production, expansion and economic recovery.
Upskilling and re-tooling the workforce
Some of the key initiatives for Australia’s workforce include the following:
Apprenticeships & Traineeships
An additional $2.7 billion for the extension of the Boosting Apprenticeship Commencements wage subsidy until March 2022. This scheme will provide a 50% wage subsidy over 12 months for newly commencing apprentices or trainees signed up by 31 March 2022. The subsidy is capped at $7,000 per quarter per apprentice or trainee.
The previous commitment to the JobTrainer Fund has been doubled to expand the measure for another 12 months and to support a further 163,000 new training places.
The JobTrainer Fund will support hundreds of thousands of job seekers, school leavers and young people by providing access to free or low-fee training places in areas of skills shortages.
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