Forecaster Access Economics believes Australia is on the cusp of another resources boom which will turbocharge economic recovery and drive up interest rates.
In compiling its forecasts for 2014, the independent economic consultancy says the China-spurred resources boom will be even bigger than the one between 2006 and 2008.
However, economist Chris Richardson says the skills shortage is likely to be worse than ever because of a lack of migration.
"Through the first round of this boom - as Western Australia desperately needed workers - out of every eight extra workers that it got, seven came from overseas," he said.
"Now fast forward to this bit of the boom where migration is falling fast - it's going to be very, very hard to fill the job demand that it's got."
