3 min read
October 11, 2023

TABLE OF CONTENT

Introduction:

As a StudyStake user, your goal is to optimize educational investments and career choices for employability in the international setting. This guide provides valuable insights into skill shortages and labour market conditions in Australia and the UK, as of the December 2021 quarter. By understanding these trends, you can make informed decisions to align your studies with in-demand occupations, reducing the risk of investment in higher education.

Let’s explore the latest data and assessments to help you navigate the dynamic career landscape effectively.

Job Demand and Skill Shortages:

Both Australia and the UK have experienced a significant increase in job vacancies beyond pre-COVID-19 levels. This surge in job demand indicates tighter labour markets, with employers facing challenges in finding qualified candidates. Identifying occupations with skill shortages is crucial for you to choose study programs that align with in-demand careers, increasing your employability prospects upon graduation.

Occupations in Demand:

In the UK, Skilled Trades were identified as the most challenging occupation group to fill vacancies. In Australia, Technician and Trade Occupations face a shortage of skilled professionals, making it a critical area to consider for your career path. By focusing on occupations in demand, you can equip yourself with skills that align with the evolving needs of the job market.

Impact of the Pandemic:

The COVID-19 pandemic has had varied effects on different industries. Occupations in severely affected sectors like hospitality and transport experienced worsening shortages in the European Union. In Australia, ICT-related roles like project manager and security specialist, as well as healthcare professions like enrolled nurse, were identified as experiencing shortages. Understanding the pandemic’s impact on skill shortages can help you adapt your career plans to resilient industries.

The Tight Labour Market:

As a StudyStake user, you must be aware of the tight labour market conditions in Australia. Recruitment activity remains high, and employers expect an increase in staffing levels. These indicators underscore the importance of choosing study programs that equip you with skills sought after by employers, ensuring a smoother transition into the job market upon graduation.

Leveraging Jobs and Skills Australia (JSA):

To address workforce, skills, and training needs, the Australian Government has established Jobs and Skills Australia (JSA). This body will provide independent advice on the current and future labour market, skill priorities, and vocational education. Staying updated with JSA’s publications can offer valuable insights into emerging job trends and skill demands, guiding your educational investments.

Conclusion:

As a StudyStake user, staying informed about skill shortages and labour market trends is essential for making informed decisions about your career and study choices. By aligning your educational investments with in-demand occupations, you can optimize your employability prospects and reduce the risk of investing in higher education programs that may not lead to rewarding careers.

(Note: The information provided in this guide is based on data available up to the December 2021 quarter. For the most current information, please refer to official government reports and labour market updates.)

Sources:

  • National Skills Commission’s Labour Market Updates and Recruitment Experiences and Outlook Survey

  • UK Department for Education’s Employer Skills Survey 2019

  • Eurofound’s report on Tackling labour shortages in EU Member States

  • Jobs and Skills Australia (JSA) website:

Credit Sources:

  1. World Economic Forum, The Future of Jobs Report:

  2. McKinsey & Company, Building workforce skills at scale to thrive during—and after—the COVID-19 crisis: https://www.mckinsey.com/industries/public-and-social-sector/our-insights/building-workforce-skills-at-scale-to-thrive-during-and-after-the-covid-19-crisis

  3. Microsoft’s Free Courses:

 

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