The paper 'The UK Labor Market" is a good example of a marketing assignment. In this lesson, I learnt how the UK labour market has changed over the past five decades. This period has seen the decline of the traditional manufacturing industry e. g. shipbuilding and textiles. This has however paved way for the development of the service sector industry such as banking, IT and retail. This has led to a high demand for skills in digital technology. Many graduates have flooded the market with credible qualifications. The effect of this is that there is a high supply of labour than the available demand.
Therefore employers are advantaged in the sense that they have a lot of authority in deciding the maximum wage and salaries to pay. As such there has arisen a great need to be flexible and mobile. As big industries struggle with rising costs and shrinking revenue, SMEs are providing much-needed employment for a large chunk of the population. In the 21st century, it is very common to find a lot of professionals in self-employment or freelancing. In the international labour market, there is so much outsourcing of manufacturing activities in areas where labour is cheap such as Indonesia and China. How I will use this in the future. Having this labour market knowledge is very important for me in the future as I will be prepared to find such a situation where job requirements have considerably changed.
I will get the required skills and attitude to survive in the new job market. What I still don’ t understand is how the government in the UK is can promote the growth of the SME sector since it seems the only solution there is to the rising unemployment.
I think I will find this out by engaging in research meant to identify the support the government is giving to this vital sector. Week 3: Employability/graduate skills What I learnt in this lesson. In this lesson, I learnt that employability skills are a set of attributes and knowledge that I was a graduate should possess in order to be capable to be efficient and effective in the workplace. This will benefit me, my employer and the economy in general.
They include; Self-reliance- this is evidenced by how much I want to learn, how well I can network, how well I can plan ahead and how self-driven I am. People skills- these are skills that enable one to have a good working relationship with colleagues at the workplace. They include team working, communication skills, leadership, interpersonal skills, and customer orientation. General employment skills- these are skills employers are really interested in they include but not limited to skills in problem-solving, flexibility, numeracy, and business acumen. Specialist skills- these are technical skills that one is required to have to work in a particular sector such as accounting skills. My strengths After rating myself on the QAA core skills scales.
I identified my strengths as team working, motivation and interpersonal skills. These are very effective for leadership team building.