Australian Jobs in 2024 Report to be Released
Following your dream is incredibly important. To have a passion and turn it into a livelihood is one of the most rewarding things you can do. Sometimes though, the passions that are most satisfying can be best achieved on the other side of the work balance scale. Studying for a career that you know will bring you stability, growth and the financial rewards you deserve is worth the effort. Therefore, a report into Australian jobs in 2024 would be one well worth knowing.
That report is about to be released to coincide with the Coalition’s million-jobs target it set when it came to office. The landmark report by the National Centre for Vocational Education Research will be launched by Malcolm Turnbull in London where he will attend a Commonwealth Heads of Government think-tank.
What the Future Holds – It Pays to be Realistic…
Free-trade agreements, an ageing population and the arrival of hundreds of thousands of new young migrants. There will be extraordinary opportunities from these three sectors. This will occur as manufacturing shifts from the struggling car industry to home-grown equipment.
However, there are harsh realities to face. Good news for some will be bad news for others. The report indicates that workers may want to reconsider planning a future in retail, mining or the public service. Weak wage increases will lessen spending in shops, and the final chapter of the mining boom will limit resource opportunities.
…But the Rewards are There
Monash and Victoria universities used modelling developed over 30 years to forecast that labour growth will be stronger than at present. The key messages expected to emerge from the report are as follows:
- The total number of job openings over the forecast period 2017 to 2024 will be about 516 600 per year
- The results show employment continuing to move toward higher-skill jobs in the labour market
- The highest number of job openings, 121,700 per year, will be in professional occupations. The second highest, 71,300 per year, will be for managers. These figures reflect the demand for higher skill levels
- Examples due to replacement demand include hospitality workers, checkout operators and cashiers, and food preparation assistants
- Replacement demand is high for occupations with relatively older work-forces. An example of high retirement-replacement demand includes farmers and farm managers
- Reasonably high levels of job openings due to replacement demand are also found among technicians and trade workers (for example, bricklayers, carpenters, joiners, automotive electricians and mechanics)
So, What Does it all Mean?
The results for Australian jobs in 2024 suggest employment growth in occupations needing higher levels of education and training. Particularly, employment for professionals will increase by 3.3 million in 2024. This means that almost a quarter of all workers will be in a professional occupation by then. Among professionals, the highest increase in employment will be for accountants, auditors and company secretaries.
This is likely due to growth in industries that demand these occupations. There will likely be strong growth in demand for midwifery and nursing professionals. This reflects the strength of the healthcare and social assistance sector, in particular, residential care and social assistance.
The growth in employment for many trades and technician occupations will be weaker than average for all occupations due to continuing weakness in construction. However, the roll-out of the National Broadband Network (NBN) will mean the demand for ICT and telecommunications technicians will continue to grow. The weakness in construction, as well as the slowdown in mining, will also affect demand in low-skill occupations.
Australian Jobs in 2024
The highest numbers of job openings will be in professional occupations. The second highest number of job openings will be for managers. Of these, construction, distribution and production managers had the highest number of job openings. The results for Australian jobs in 2024 indicate employment is continuing to shift towards higher-skill jobs in the Australian labour market.