The Labour Market

When making decisions about which route to follow, you need to take a long-term view of the labour market and the world of work. So what are the key trends?

The number of jobs that require higher levels of qualifications and skills such as managers, administrators, professionals and technicians is growing, with a big shift away from manual and low skilled jobs.

There are now more part-time, temporary and home workers, while the number of people who are self-employed has stabilised and is expected to remain the same.

People are increasingly choosing to change jobs, companies and even careers several times during their working lives, or sometimes circumstances force them to change as jobs disappear because firms close down or merge.

The UK economy is becoming increasingly service-based with employment trends moving away from manufacturing and the production industries. The growth areas are:

• banking, finance and insurance
• distribution, retailing, hotels and restaurants
• public administration, education, health and other services.

More young people are staying in education and training with 80% of 16 and 17 year olds still in learning and more than a third of young people going into higher education.

As well as qualifications, employers are seeking key skills in their employees such as:

• understanding and use of ICT
• communication and literacy
• numeracy
• team working
• problem solving
• customer handling
• technical or practical skills.

Employers report an increased need for and a current shortage of people with these skills.

So, what does this mean for you?

Today’s workforce is becoming increasingly highly skilled, so to be able to compete you will need to make the best of your abilities and get well qualified.

You are unlikely to have a job for life and can expect to change jobs and train for different types of work throughout your career. To progress successfully from one job to another, you will need to gain new skills along the way.