What is the Labour Market?
The labour market is a phrase used to describe the relationship between the available workforce and the availability of labour (jobs). In other words, the labour market analyses how many, and what type, of jobs are available, against the workforce which might be available to fill these roles.
Studying the labour market therefore is exceptionally useful when considering career paths. You might find that the career path you intended to follow is already over-staffed and that there are not enough jobs available. Conversely, you might discover that there is a particular demand for that role in a certain area, where higher wages are available.
The following websites are useful for exploring the career and labour market. They are all provided by the Office for National Statistics:
- Labour market in the South East of England
- People in work – employment rates, wages, etc.
- People not in work – redundancies and economic inactivity
Researching my options
When considering different careers it is critical to find out further information as some careers may require specific qualifications which you have not considered.
Here are some of the important questions to consider when deciding on different career paths.
- Do I need to go to university?
- What subjects do I require?
- What other entry routes are there to my chosen career?
- Is it a growth area or is it a declining industry?
To research into different careers please find below links to a number of relevant websites:
- Start in Kent – includes helpful information about jobs and career opportunities in Kent as well as information about local education and training provision. It will support you on your journey towards the world of work, helping you make informed choices about study options and be employment ready.
- Kent Choices – a free online prospectus and application system for young people to apply to sixth forms, colleges, training providers and apprenticeships. You can find lots of information throughout the site that will support you in making the best decision for your future, while also highlighting the skills you need to succeed post-16.
- National Careers Service – includes job profiles, entry requirements, training routes, salary and labour market information.
- icould – offers you the opportunity of starting with a simple psychometric test to establish more about your personality and will suggest some different career areas which you can research into. You will be able to watch numerous videos on different career areas. This website also includes the required entry routes, salaries and local labour market information.
- UCAS – some careers will specify that you will need a university degree. To research into different degree areas look at the University College Admission Services website. You will have the opportunity to establish which subjects you may require for certain degrees but also some of the grade boundaries that different universities are looking for.
Careerometer
The Careerometer widget provides access to a selection of headline data relating to pay, weekly hours of work and future employment prospects.
The data are organised by occupation: simply type in the title of the job you are interested in and the widget provides a series of options from which you can select the most relevant to you.
More detailed information regarding different job roles can be found on the the National Careers Service website.