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Trends in the Labour Market - Coggle Diagram
Trends in the Labour Market
Contracting
agreement between two parties for a specific sum of money for a job
used as when you contract someone you are not required to give them all the benefits that you would if you employ them
Benefts:
Disadvantages:
Statistics:
-The Construction industry division had the most independent contractors (30%) followed by the Professional, scientific and technical services industry division (16%).
The occupation groups with the highest number of independent contractors were Technicians and trades workers (27%) and Professionals (24%).
Can do work on the side
Useful for people with spare time such as retired workers as they can do contracting jobs
Casualisation
employment shifts from a preponderance of full-time and permanent positions to more casual and contract positions
35% of all workers are casual or contract employees
Benefits:
Flexible working hours, higher pay rate than full time work, no locked in contract, may lead to permanent work
Statistics:
around 24 to 25% of all employees are casuals
65% of people accepted casual positions because full time work was unavailable
Causes: forces of demand and supply, businesses have undergone structual change, demand,
Advantages
Flexibility for employers to increase or reduce staff as business demands change.
Employers may avoid paying some non-wage costs such as penalty rates or redundancy entitlements.
Flexibility for employees with family or other commitments.
Disadvantages
Less job security,
More difficult for employees to plan for the future, obtain home loans, etc., without secure income.
Less staff loyalty and less development of workforce skills.
Not paid for sick or annual leave
Increase in part time work
Increase due to the increase in females in the labour force
Flexible working conditions
1 in 3 people work part time compared with one in ten, 50 years ago.
Cost of childcare is very expensive
The RBA completed a survey about why people choose to work part time. Two thirds of people surveyed said that they worked part time because they had study commitments.
Firms are looking to improve the flexibility of their business models.
Able to achieve a better work-life balance
Spend other days studying
Increase in female participation rate
The January 2019 labour force statistics indicated that there are 5,983,900 women employed in Australia, which is a 2.4% increase over the last 12 months.
The female unemployment rate as at January 2019 is 5.2%, down from 5.6% recorded 12 months ago.
The number of Australian females recorded as unemployed is 326,000, a drop of 5.7% over the past year.
US women's participation in the labor market has nearly doubled, from 34% of working age women (age 16 and older) in the labor force in 1950 to almost 57% in 2016. Half of employed females currently work part time.
Union Membership
Percentage of people in a union has decreased from roughly 45% in 1980 to 14% in 2018.
Women tend not to join unions despite many joining the workplace in recent years.
Part time/casual workers do not feel the need to join unions.
Increased union mobility has left workers less and less inclined to be aligned with a union.
