by User Not Found Jul 7, 2021, 00:34 AM
There’s no denying that jobs of the future in Australia are changing. So what can you do today to ensure your child’s education sets them up to meet the needs of the future jobs market demand and employment trends. And how can you help them develop the high demand skills for the next 10 years and beyond.
The world is changing rapidly. And so are the demands of the future job market. With technology, robots and artificial intelligence (AI) replacing humans in more and more industries, jobs we once thought of as secure are vanishing. This will have major impacts on Australia’s future jobs market demand and the employment trends of the future.
Planning for your child’s educational future is a great place to start.
But to future proof your child’s employment options, what should you be encouraging them to study? And what skills will be in high demand within the next 10 years?
The Fourth Industrial Revolution
Five years ago, Klaus Schwab, Founder and Executive Chairman, World Economic Forum (WEF) wrote:
‘We stand on the brink of a technological revolution that will fundamentally alter the way we live, work, and relate to one another... but one thing is clear: the response to it must be integrated and comprehensive, involving all stakeholders of the global polity, from the public and private sectors to academia and civil society.’
He went on to say that the Fourth Industrial Revolution is ‘disrupting almost every industry in every country.’ Although numbers and percentages vary depending on what you read, it’s estimated that soon around 35 percent of skills we value in today’s workforce will no longer be sought after.
What this means is that kids will need to possess a different skill set to those of their parents, and it’s up to us as parents to guide our children into the best possible direction to secure their working future.
Future employment trends in Australia and the skills they will require
According to a 2015 WEF report The Future of Jobs, with business models changing so quickly, employers are already finding the skills of their employees lagging. Nearly all industries are feeling the impact of technological and other changes and it’s reducing the ‘shelf-life of employees’ existing skill sets’. While many businesses are investing heavily in re-training existing staff, your kids can have the upper hand by graduating high school, ready for university or further learning, fully equipped with the skill set the future job market in Australia will demand.
The report states the secret to future job success will be innovation skills. And the top ten innovation skills it speculated would be needed are:
My Future is a great place to dig deep on the future jobs market as it publishes a range of information and reports addressing what skills will be in high demand for future jobs.
Future jobs in Australia
The Australian Government Labour Market Information Portal has some interesting employment projections from 2020. Bearing in mind these are pre-COVID projections, they project the four main growth industries to 2025 will be:
The report states ‘together, these four industries are projected to generate over three-fifths (or 64.4 percent) of total employment growth over the five years to November 2025.’
While not included in the report, another major growth area will be in Construction.
What these reports show us is that while we may envision a future full of robots and smart people running the show, there’s also room for our less scholastically inclined kids to have a solid career future and make a great living.
So if your little one prefers construction or counselling to coding, just let them do their thing. Afterall, we want them to be happy as well as gainfully employed.
What your child should be studying now to be ready for the jobs of the future in Australia
While we can never be certain what will happen in the future (thank you 2020), we can try to steer our kids, and their studies, in the right direction. Here are a few ideas on what your children could study now to set them up for future job opportunities.
Coding – teaching computers what to do is a prized skill today, so imagine what it’ll look like in ten years’ time. Even if your child doesn’t end up coding, a good understanding of computer science will open up future job options. Coding, which can be taught from as early as four years old, also teaches children structure, attention to detail and the all-important creativity.
Data analytics – data rules the world and with future growth estimates of around 30 percent, people who can analyse and identify trends will be invaluable to businesses big and small.
Maths and science – maths drives most businesses and teaches critical thinking, logic and problem solving. And it’s not hard to channel all your little one’s curiosity into science because science is fun and exciting. Ultimately, this road leads to the STEM subjects.
Liberal arts and humanities – robots won’t be able to replace creativity, critical thinking and people skills, at least not for a long time.
Finance – money will still make the world go round as will skills in finance, investment and banking. Financial literacy will always be important for those who want to make money and hang onto it.
Communications – it’s great having all the skills but it’s just as important knowing how to communicate your message. As noted above, robots can’t easily replace human interactions. Not at this stage anyway.
Top 10 future jobs and emerging occupations
So what are the top ten choices for the future jobs your child should be studying towards?
With coding being taught to four year olds, it’s really never too early to start thinking about, planning and saving for your child’s education and future. And we’re here to support education journeys in creating the path for your child to the jobs of the future in Australia.