Labour Market Statistical Analysis, once the domain of Human Resource departments and recruitment organisations for the purpose of identifying, exploring and capturing talent, to structure remuneration (pay) and benefit frameworks to obtain and retain talent; to identify current and emerging labour market trends to navigate an organisation forward in an ever-changing workforce. Labour Market knowledge and the application of same was and still is an imperative functionality of the recruitment, selection and talent management process.
WHY IT’S IMPORTANT FOR YOU TO UNDERSTAND
Thus, it is imperative that individuals particularly job seekers understand the fundamentals of labour markets in order to effectively identify and capture opportunities and negotiate the terms and conditions of their employment.
Whilst many may be aware of the current national unemployment rate, 5.4% (June 2018), and that currently more jobs are been created thus consistently decreasing the unemployment rate over a period of time. That is usually where the average individuals’ knowledge stops with respect to labour market knowledge.
AVAILABLE LABOUR MARKET INFORMATION
Did you know that it is possible for the average individual to source and review a wealth of labour market statistics at the click of a mouse for example it is easy for you to:- Continue reading “Career Counselling – Understanding Labour Markets in the Job Search Process”
According to an Australian Bureau of Statistics (ABS) media release dated 19 April 2018, the national labour force participation rate is at an all time high of 65.7% which means that more individuals aged 15 to 64 years are working now more than ever before.
Whilst the above is good news for our economy there is also the flip side of employment and the world of work. That is, the need to address underemployment, retrenchments and terminations and the associated impact of same.
In the most recent ABS – Labour Market Statistics Report (July 2014) it was noted that 2 million individuals ceased their job in the 12 months to Feb 2013. Of those 2 million individuals, 19% or 381,000 were retrenched or made redundant.
Thus, over the course of your career life cycle it is inevitable that at some point in your career you will experience this transitional period. In fact, many clients have reported that they have experienced this period 2, 3, 4 or more times over the course of their career.
Thus, whilst you may perceive redundancy and/or termination to be taboo, embarrassing, humiliating or a hush hush topic in fact Continue reading “Career Counselling – Coping with Employment Termination and Redundancy”
One recently heard and read some interesting articles on the length of time it takes for various members of the Australian workforce to attain a new position. The broadcasts and articles stated that Continue reading “Career Counselling: – Why is it taking so long to find a job?”