Home' Employment Forecast : October 2009 Contents The Age Employment Forecast
Gen Y suffers the brunt of job losses while jobs for Twilight Workers are booming
The fastest growing segment continues to be Twilight Careers, they now number 278,000 workers. Currently jobs in this segment are
growing at 8.0%. Even full-time jobs are growing for this segment (+5.1%), and part-time jobs are up a robust 10.6%. This segment has
the desire to want to continue working, partly to top up their small superannuation funds and partly to fund their lifestyles. Employers
are increasingly valuing their experience and loyalty. The change in mind-set is dramatically illustrated by the participation rate, only 10
years ago roughly a third of those eligible were either looking for work or in work, now this fgure is about half the eligible population.
Jobs have grown in just about all sectors for this age group.
Boomers are still holding onto their jobs. They are the second biggest segment in number by far (3.8 million). Employment for this
segment is up 2.6% and both full and part-time positions are growing. This segment continue to plan to work past traditional retirement
age. They enjoy the challenge and being engaged in the workforce, and of course the extra money helps support their lifestyles.
Generation X are feeling the pinch with jobs for this segment static at the moment. They are still the largest segment by number
though (4.8 million). They are concerned about moving and tending to stay put where they are for the time being. They continue to work
hard to achieve their goals of more senior roles and are more patient than Generation Y.
The segment really feeling the pinch at the moment is Generation Y. There are 1.8 million workers in this segment but their share of the
jobs has been steadily falling for years. In 1979 they were 25% of the workforce, now they are just 17%. This refects the ageing of the
workforce but also their higher level of participation in the Education Sector. For this segment, jobs are down 4.7%. In the 1991 recession,
this same segment was impacted the most, although at that time jobs were falling by a staggering 14.6% by January 1992. The impact
is very high amongst the under educated, but even those with Tertiary qualifcations are fnding it tougher. The major accounting frms
and consultancy frms slashed their Graduate Hiring programs in 2009. This segment though, is still as impatient as ever and job
hopping is common. They have lost jobs in just about all sectors, but especially in Manufacturing, Construction and Mining.
Gen X, Y, Boomers, Twilight Careers
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