Jan 27, 2020

Our Insights

Whether you’re just getting started in the job market or are looking for a career change, you want to make sure you invest in something that will pay off. It takes time and money to get the skills and education you need to land a good job. You don’t want to waste your valuable time and resources by pursuing a an industry that doesn’t have good future prospects. 

The 2020 employment rate is expected to grow at a less-than-ideal rate in Australia. In light of the limited opportunities, you should concentrate your job search efforts on fields that have a high demand for workers.

Here’s an overview of the industries in Australia that are expected to perform the best in 2020. We’ll also talk about the ones with a poor outlook that you should avoid. This brief guide can help you determine which is the best career move for you.

The Best Australian Job Opportunities in 2020

When it comes to well-performing industries in Australia in 2020, think basic human services.

Based on ABS data, we can expect to see increased employment in industries such as:

- Medical and health care services
- Food and beverage services
- Preschool and school education
- Construction services
- Social assistance services
- Professional, scientific and technical services 

The health care and social sector, in particular, could see growth of nearly 15% over the course of five years between 2018 and 2023 as Australia continues to deal with an ageing population. Other examples of ideal careers in this industry that should perform well in 2020 include welfare support workers and family support workers.

If you’re interested in a career in construction, consider becoming either a construction manager, a construction project manager or a civil engineering professional.

Are you into computers and technology? Some of the best career choices in 2020 include software and application programmers.

Industries to Avoid in 2020

Based on the data, we'll likely see the biggest decline in employment in areas such as: 

- Printing
- Agriculture
- Rail transport
- Machinery and equipment wholesaling
- Basic material wholesaling
- Manufacturing in polymer and rubber products as well as in metal and primary metal products

Making Your Career Choice

The most important thing to aim for as you plan your new career in 2020 is to be adaptable.

Having skills that can smoothly transfer between industries is a valuable asset that can make you hireable just about anywhere. Strive to keep an open mind towards learning new things or picking up new certifications or degrees.

It’s also extremely helpful to have your finances well-managed so that you’re prepared for any change in your employment status.

If you want to save for schooling, secure an adequate emergency fund or start up a new business, then you’ll need a solid financial plan.

Get Advice

The best way to deal with your future prospects is to have a great wealth plan and the help of an experienced financial adviser.

Talk to the team at Calder Wealth Management. Call us on (08) 8373 3333 to schedule your free initial appointment. 

Written by Ben Calder at Calder Wealth Management.