Understanding the current job and employment market is as important as deciding which sector and/or roles you want to apply to. This is because, your success in securing a job may be dependent on the state of the job market generally and/or in a specific sector at that time and this additional information will help you to make an informed decision.
Questions to consider are:
- What is happening in the market right now?
- What are the hiring practices and cultural norms?
- Are there any skills gaps or surpluses?
Here are some tips on how to find out more.
UK Overview
There are many resources out there that can help you to understand the UK job market better and here are a few that we recommend:
Graduate Outcomes Survey
You can learn more about the sectors and roles previous Oxford Graduates have gone into by reviewing The Graduate Outcomes Survey | Oxford University Careers Service. This survey is taken 15 months after graduation and provides information on % of students who choose to do further study, go into work, median salaries and more. BUT remember, these results reflect what previous students have chosen to do, it doesn’t mean that you have to make the same career choices!
Sector Specific Trends
You can find out about recent trends and job market information on individual sectors by reading the briefings on the Sectors and Occupations webpages. Each briefing also has general information about the market and employment trends and links to external resources that can provide more detailed information.
AI & the employment market
The development of AI is moving at an incredibly fast pace and keeping up to date with how it may affect the job market is important.
N.B. Try not to just focus on the news headlines, do more research to help you separate fact from fiction, some tips below:
- Find credible resources eg: company articles/reports; sector specific trade publications, national & global employment reports/data such as those mentioned in this briefing
- Understand the current and future skills that may be required in your preferred job/sector and how you can learn and develop them
- Read the sector specific guidance on the Sectors & Occupations briefings
Global Overview
If you are considering working internationally, then it is a good idea to stay ahead of any market trends and hiring practices of your desired destination.
The following resources are a useful starting point but note that this is not an exhaustive list. Each country will have its own trends and hiring practices and you are encouraged to do your own research.
TIP: Make the most of GoinGlobal, the market leader in providing location-specific career guides for over 120 countries.
Resources
If you decide to work in a country that is not your home residence, you will have additional considerations and challenges to think about. You will be competing for opportunities against individuals who will likely have more connections, a stronger understanding of the local economy and commercial awareness, cultural awareness and possibly even advantages such as languages. You will need to take the time to learn as much as you can about the location, trends and developments to help you navigate an international career with confidence.
- World Economic Forum: Future of Jobs Report brings together the perspective of over 1000 leading global employers, to examine how macrotrends such as, technological change, geoeconomic fragmentation, demographic shifts etc. impact jobs, skills and employers' strategies.
- EURES (European employment services) – The EURES provides a comprehensive overview of living and working in Europe, the latest labour market information and any news on labour shortages or surpluses. Over 30 countries are included on the dashboard, which is based on data collected for the European Labour Authority (2024). For those wishing to work abroad, this is an essential tool to find out more about the latest trends in your country of choice along with market conditions.
- OECD iLibrary (Organisation for Economic Co-operation and Development) – The OECD iLibrary contains numerous ebooks, podcasts and articles which are free and open access. You can browse by country or theme to explore developments in artificial intelligence, trade, policy and climate. You can access the latest OECD Employment Outlook annual report on jobs and employment.
- Gallup’s State of the Global Workplace 2024 Report provides regional insights for the USA and Canada, Latin America and the Caribbean, Europe, Post-Soviet Eurasia, Middle East and North Africa, Sub-Saharan Africa, East Asia, South Asia, Southeast Asia and Australia and New Zealand.
