RateCity.com.au
Advertisement

Want financial stability? Watch these jobs


Patricia Babalis

By Patricia Babalis

4 min read

You'd be hard pressed to find an Australian who isn't striving for financial stability and employment is a big part of making that happen.

While we’re often told to choose a job we love the more practical amongst us will know that picking a job in a thriving industry is the best way to ensure job security.

Recent research from IBISWorld has outlined which industries are set to flourish in 2015-16 and beyond — and which ones will flop.

"Whether you are a school leaver, professional or someone keen to change careers, it is vital to be realistic about job prospects and to investigate your preferences thoroughly to maximise the payoff from education and upskilling in your chosen field," Dan Ruthven, Australia General Manager for IBISWorld, noted.

Australia's hottest industries

Good news for Australian cotton growers with the cotton industry topping the list of projected growth trades over the next year. With an expected growth rate of almost 20 per cent Aussie cotton farmers will be laughing all the way the bank.

Internet publishing and broadcasting come in second place with an almost 10 per cent projected growth rate. Organic farming, houseware retailing and university and other higher education round out the list with around 5 per cent growth expected in each sector.

For people already working in these areas job security is all but assured with a steady flow of work expected to continue in the near future.

Industries on the decline

For Aussies employed across the petroleoum and gemstone mining industries the outlook isn’t as positive. These trades topped the list for industries set to fall, along with contract mining services, well and truly signalling the end of Australia’s mining boom.

Other industries to get out of while you can include printing businesses and nightclubs who will see a respective 4 and 3 per cent fall.

Related links

Brush up your skills

If you want to shore up your employment prospects or job stability, it pays to be working in the right industry. 

If you've got a penchant for all things digital or are an information technology whiz, you might find that your future career outlook is remarkably positive.

But if your current career choice isn't heading in the direction you'd hoped for, extra training to polish up skills that will be sought-after in growth industries could be a smart move.

Whether you undertake part-time study while you work or leap into full-time study is up to you. There's a range of education providers that can help take your existing abilities and turn them into skills that are highly favoured by employees.

Get the basics right

As with any job, there are some skills that will be valuable no matter your career path. Even if you're not working in one of IBISWorld's growth industries, you can still make yourself a valuable employee. 

For one thing, you can't undervalue strong communication skills. From the ability to write reports succinctly to give instructions in a clear, understandable manner, there are plenty of instances when sound communication will benefit your work. 

The ability to band together and work in a team is an incredibly valuable skill to possess, too.

Whether you're nearing the top of the corporate ladder or still learning the ropes of a new job, having a grasp on essential skills could help you shore up your job security. And when those bonuses roll in, be sure to put a proportion into your savings account!

Related links 

Advertisement

Contact a Broker

A broker will compare hundreds of home loans to help find the right deal for you, at no cost.

By submitting this form, I accept Loan Market's terms and conditions, privacy policy and Collection Statement for this service.

Yes, I'd like to get email updates from RateCity

Submit your details now and a local expert will be in touch within a few business hours. They'll compare hundreds of home loans from up to 20 lenders including the big banks to find the loan that's right for you. Book your free appointment today.

Loan Market Pty LTD | Australian Credit License 390222 ABN 89 105 230 019

Compare your product with the big 4 banks, or add more products to compare
Advertisement