HR assignment essay on: Development in Australian employment
Q1. Briefly explain the labor market. Explain the long term development in Australian employment.
Ans1. The labor market includes the various types of issues such as unemployment, the rate at which the labor would be ready to work, employment of the labors & an appropriate wage rate. Labor market also includes another major issue such as a structured format according to which the employers communicate with one another, the pay as well as the working condition where the employees work (Australian Bureau of Statistics, 2011).
The major outcome of the labor market would be to get influenced by the various institutions, organizations & the collective bargaining played within the trade unions formed in the organizations.
The long term development in the Australian employment could be seen with the help of the various facts & figures posted by the Australian Government on their official website (Australian Bureau of Statistics, 2011).
There are various improvements amongst the Australian workforce. Some of the improvements are as under. The experienced workforce has led to a substantial growth in the productivity of the same. There has been a growth of 2% in the employment.
Some of the other improvements are as explained as under. They are as follows:
Þ In the year 2009, the rate of unemployment has remained at a constant rate i.e. 5.8% despite of the finance crisis all over the globe
Þ The Australian economy has been ranked at 11th position on the basis of the productivity generated by each & every individual.
Þ The GDP of the Australian economy has been quite consistent
Þ The three main sectors which generated highest level of employment were manufacturing, real estate as well as the retail sector.
Þ The three major occupations were technicians, professionals & the administrative workers.
Þ On an average 25% of the total labor force comprises of employees from all over the globe.
The figure 1 below states the trend of employment in Australia for the past decade. The figure also showcases the forecast for the next decade as well. It could be seen from the chart that the employment has been increasing at an increasing rate (Australian Bureau of Statistics, 2011). The rate of employment has been increased from 8.35 million to 10.04 million in the year 1997 – 2006. It could be seen that, there has been a continuous rise amongst the employment level in the next decade. The employment for the year 2016 has been forecasted to be 11.23 million approximately (Australian Bureau of Statistics, 2011).
(Source: Australian Government, 2011)
The next table i.e. Table 11 forecasts the employment on the basis of the occupation for the year 2016 (Australian Government, 2011). The chart shows a positive shift towards the high occupation skill. The forecast states that, there has been a constant shift in the three major occupations i.e. managers, associates & professionals. Whereas, in case of traders & clerical field there has been a decline in the employment level (Australian Government, 2011)
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(Source: Australian Government, 2011)
Q2. Consider your potential career, how would each of the developments in the Australian employment environment impact on your future employment prospects?
Ans2. The potential career chosen would be construction managers. The employment in case of the construction managers in the next decade would be expected to grow in a very strong manner (Australian Government, 2005). The employment in case of the construction managers was approximately 82000 in the year 2010, but is expected to increase in long run say in the next ten years.
The construction managers would have large number of jobs in the years to come. The proportion of full time jobs in case of the construction managers have been accounted to 94.6%. The rate of unemployment in case of the construction mangers is under average (Shah& Burke, 2006). The construction managers have a huge level of scope as they are being recruited amongst several industries such as retail, manufacturing, research, technical services, administration, safety, professional, etc. The growth opportunity in case of the same is quite favorable (Australian Government, 2005)..
Key Indicators
(Source: Australian Government, 2005)
The graph above states the 12 key factors in case of construction managers. The key indicators are as under i.e. size of the employment, full time workers, rate of earnings, growth opportunities, rate of unemployment, mix of the industries, long term commitment, etc. The graph shows how the development in the Australian employment environment would impact the future growth of the potential career i.e. the construction manager selected (Shah & Burke, 2006).
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