Aussies can find it challenging to secure blue-collar jobs compared to white-collar ones, as per Deloitte Access Economics.
The blue-collar workforce is expected to rise by 2.7% over average in 2023–2024, or 99,200 workers, according to the data.
After that, the growth rate is predicted to stop in 2024–2025 at just 0.3%, or 10,000 workers.
While still likely to be more resilient, white-collar jobs are predicted to diminish from a 2.5 percent increase (128,600 workers) in 2023–2024 to 1.5 percent (78,200 workers) in 2024–2025.
The report further stated: “White collar employment growth is expected to be supported by knowledge-based industries such as professional services and health care, which are expected to perform well during the year ahead.”
Employment growth in white-collar professions is still expected to have its worst fiscal year since the pandemic, despite the more optimistic prognosis.
The continuing move towards knowledge-based and service-based labor is predicted to propel both the human services and white-collar workforces to greater heights during the next ten years, surpassing blue-collar sectors.
Deloitte Access Economics partner David Rumbens stated that the “dial had shifted” following a stellar few years for the labor market as a whole.
There were only 500 new jobs added to the economy last month, according to the labor force data for December and January.
Mr. Rumben stated: “In the second half of 2023, many employers have changed their attitudes around (the) workforce, and some are now actively taking steps to right-size their workforces for the subdued economic conditions of the moment.”
By the end of 2024, 108,400 more people are expected to have lost their jobs, according to experts, who predict that the unemployment rate will progressively rise to 4.5%.
- Published By Team Australia News
