Modeling Australia’s Construction Workforce Demand: Empirical Study with a Global Economic Perspective

摘要: AbstractWorkforce planning is vital for implementing strategic human resource planning. A causal model that incorporates a global economic perspective derived in this paper by undertaking detailed review of the normative literature and empirically estimated vector error correction (VEC) model. The reliability developed VEC validated using several tests (e.g., Lagrange multiplier test, White’s Jarque-Bera test), all which indicate proposed models are able to forecast construction workforce demand context turbulence. This contributes systematically developing advanced not only demand, but also examine impact climate on labor market. It provides policy makers with practical tool insight into future serves assist launch an effective resources strategy industry.