Welcome to the first ACIF e-news of 2022. I hope you had some quality time off over the summer break. As we head into the third year that Australia has had to deal with the COVID pandemic, I think it’s safe to say that people are weary of the situation and simply “over it”. Thankfully, case numbers and hospitalisations are trending down, and compared to many countries, Australia has handled the pandemidic exceedingly well.
This week the NSW government announced a $1 billion support package for businesses hit by the economic impact of the Omicron wave. More information on this can be read here. The package, which targets businesses with a turnover of less than $50 million and a 40 per cent decline in turnover in January, also includes support with buying rapid antigen tests.
The current situation brings opportunities and challenges for individuals and companies in the industry. The December data from the Department of Education, Skills, Employment and Business, reveals that hiring and vacancy activity across the architecture, engineering, and construction sector is extremely strong. Further, recent reporting from HIA shows that new house sales are booming and are at their highest level since 2011. There are also reported significant delays on civil construction projects. ACIF will be advocating this year to address the skills and materials shortages facing the industry, and on the whole the future looks bright.
Best wishes and stay safe,
Dr James Cameron
ACIF Executive Director
Read the full article here