As New Zealand society evolves the number of people needed in particular occupations and industries also changes. The labour market can be affected by changes in demographics, society, technology, and preferences as well as many other reasons.
The number of people who might be required in an industry in the future is an important factor in the amount of education and training that might be needed for that industry today. Labour market forecasting allows industry training organisations (ITOs) to determine if more or less training is needed; if there are short term shortages that might need to be addressed; and which areas of training and education are likely to become more prominent in the future.
ITOs work with a range of stakeholders to determine the number of people who might be necessary in their industries in the future, and also the types of skills those workers might need. This research is usually done in conjunction with industry groups, government departments, tertiary education providers and other stakeholders.
ITOs use labour market forecasts in various ways. Uses can include changing the amount or type of training being offered, developing skill strategies, and raising awareness about future changes in their industries. The use of forecasts is often more important than the actual numbers, as they can be a starting point for discussion, engagement, and further work on the future training and other needs of industries.
All case studies are published in Skilling New Zealand: ITO Leadership in Action
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