National education and training policy and future job openings by occupation and industry

Labor market information is important for the efficient operation of dynamic and complex labor and training markets. Such information has an important role in reducing skills imbalances, which research has shown to have an adverse effect on productivity growth. An important part of this information includes forecasts of future job openings by occupation and industry. This chapter provides an outline for producing such forecasts in the Australian context. It combines forecasts of employment growth, produced using a computable general equilibrium model, with replacement demand forecasts to produce this information.