In 2001, 6,821 employers across Australia were surveyed regarding their views of vocational education and training (VET). The survey was the fourth such survey since 1995. In 2001, 80% of employers of VET graduates (compared with 83% in 1995) rated their satisfaction with VET as 6 or higher on a 10-point scale. The proportion of employees at the study firms who were recent VET graduates and had received training at a technical and further education (TAFE) institute decreased from 1995, the proportion of graduates who had received training with a private provider remained stable, and the proportion with a mix of TAFE-training and training from private providers increased. Employers were generally quite or very satisfied with VET graduates' work attitudes and general and practical work skills. With regard to course delivery, employers were more likely to be satisfied with relevance of course content and less likely to be satisfied with teacher industry experience. Only one-third of employers believed that the VET system does not take employers' needs into account. Employers generally agreed that training pays for itself through increased worker productivity. (Eighty-four tables/figures are included. The following items are appended: the study methodology; standard error tables; a glossary; the survey questionnaire; a population flowchart; and a data item list.) (MN)