Podcasts Other The Mike Hosking Breakfast Sharon Zollner: Economist says increasing immigration will increase worker supply, add to demand pressures

Sharon Zollner: Economist says increasing immigration will increase worker supply, add to demand pressures

Published: Aug. 3, 2022, 9:05 p.m.

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The reopening of international borders won\'t be enough to address the worker shortage and rising cost of living.

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Unemployment has reached 3.3 percent in the June quarter up only slightly from the record low 3.2 percent of the previous two quarters.

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Overall wages have risen 3.4 percent in the year to June, well below the inflation rate of 7.3 percent.

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ANZ Chief Economist Sharon Zollner told Mike Hosking while increasing immigration will increase the supply of workers, it will also add to demand pressures.

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She says those who move here still have to eat and live, so we need to act on both fronts by equalising demand as well as supply.

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