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If you are an employee in Australia who is keen on job mobility and optimal performance at your job, then you should be concerned about the current trends in the labour market. The purpose of pointing out trends is to alert employees to industry shifts and help them prepare for emerging trends that might affect their employment. Adapting to trends assist employees to fit into company culture, boost their retention rate, and reduce workplace complacency.
Do you know the current trends in the labour market? Are you contemplating moving to another job and seeking to fit into existing workplace trends? Keep reading to find out what is the latest in the Australian job market and how it affects you.
Labour Market Trends and Why is it important?
In the world of employment, the labor market trend is a pattern of gradual change in the process, output, or conditions of employment. It is an average or general tendency within the job market. At the heart of every business is recruitment.
Nowadays employees are keen on finding and staying in the best jobs out there. Labour market trend is integral to employees as it will help them find the most suitable jobs and ensure they receive the best pay and access to a healthy workplace. According to the recent trend, the top sectors in the Australian labour market that will experience a leap in in-demand jobs will include Health care and social assistance, Education, Scientific and Technical Services, and Construction.
Now that you have understood what job market trends are, here are some great ideas why you should be on the lookout for them:
- Labour market trends can highlight vast key information on job trends. These are the prevalent opportunities in different industries.
- It also highlights the current job types and skills employers are looking for. This is important to employees who are planning job mobility. With this information, you can know where to look and how to fine-tune your skill set to fit into different openings.
- Labour market trends show you which industries are hiring and where jobs are located. If you are already working in such industry, it will help you stay alert and productive to avoid a possible dismissal.
- It provides a general guide to jobs and the job market. It can help you look at a specific career in different ways. It will also push you to consider facets of jobs that you may not have thought about before.
- Researching labour market trends can help you predict areas of job decline or growth. Armed with such information, you can make futuristic career plans and ensure you are not going to be made redundant at work. In other words, it is an excellent tool for career planning and indispensable to employees.
- It is an excellent choice for employees who are keen on job mobility. For example, if you want to switch to a job in the health sector. You will need to learn about the industry and explore curing industry trends, changes, and challenges. You can as well study its key players and the values the industry represents.
Current Trend in the Australian Labour Market
The job market has experienced significant growth in the last few years. By the end of 2021, there were about 13,242,000 Australians in paid work. This increase shows a three percent increase in the previous year. This is obviously the best labor market in the last 50 years. Before the Covid 19 pandemic, the Australian labor market had experienced a downward trend in job mobility owing to employees’ attachment to their jobs and unpredictable economic changes. However, currently, there is an increase in job mobility and a drop in the unemployment level.
The increased rates of job mobility in Australia in some sectors are expected to contribute to higher labour costs as firms find that they need to offer higher wages and other benefits to attract new workers or retain existing staff. Overall, work in Australia is becoming more skilled. Around 90 percent of new jobs created in the future are likely to require a Vocational Education and Training (VET) or university qualification. There has also been strong growth in higher-skill level jobs, non-routine jobs and services jobs, and the growing use of automation. This is followed by a decline in manufacturing jobs.
How Employees can adapt to Changing Trends
Trends in the labour market are a constant fixture, and employees should be able to adapt to these changes to enjoy a good work history. Here are some tips on how you can adapt to the changing trends in the Australian job market.
- Be flexible: Current trends call for a more flexible approach to your job. Be willing to unlearn some of the conventional approaches to your job and open to the idea of learning new skills that are relevant to your industry or job. This will ensure you have a higher chance of job mobility either within or outside your present work sector.
- Track Job market trends: You don’t have to be complacent with the operation of the major market. Learn to study the market for new trends that you can incorporate into your job. Check out news and industry sites that monitor business and hiring trends, follow companies you’re interested in on LinkedIn and on other social media, and pay attention to the types of job postings you’re seeing on job boards. This will also be useful to you if you are opting for a job change soon.
- Be open to remote job opportunities: Remote jobs are becoming trendy after the pandemic and have proven to be a long-term fixture in the job market. While you prepare for your next job or a career switch, bear in mind that your new job may require you to work virtually with little or no supervision.
- Adjust your job search accordingly: There are new openings that you may consider applying for unlike in the past. This could entail branching out into a new industry, freelancing or trying out different job search strategies.
- Learn to network within and outside your industry: If you are overwhelmed by where to start, reach out to people in your network who also work in the industry you are targeting to ask them how they stay on top of industry trends. Maintain a communication line with people within and outside your industry to ensure you keep up on emerging trends.
As an employee working in Australia, you need to be conversant with emerging trends in the job market. Such information will be instrumental to your job success and facilitate a career switch if you so desire. The Australian job market has witnessed some changes in the last few years. The Covid 19 pandemic has introduced new trends in the workplace.
Jobs in Australia are becoming increasingly automated, less routine and require a higher skill level. If you intend to switch from your current job to another, it is only imperative that you keep an eagle eye on prevalent trends in the labour market and work on fitting yourself into your dream job.
If you are looking to change your employment due to circumstances such as being involved in a workplace investigation or you are worried that you are about to be dismissed. Then, give us a call to understand your employee rights.
All Whole New Approach (ANWA) is committed to employee welfare in Australia. We are here to help you navigate the murky waters of the workplace and ensure your rights are protected, at all times. As you study current job trends, you also need professional help on issues that could rise in the workplace. Get a free consultation today when you speak to any of our agents on 1300 766 700.