AND THAT’S A WRAP: 

Our final newsletter for 2024! Every year seems to go by faster, doesn’t it? It feels like just last week I was writing our Christmas newsletter for 2023, yet here we are again!

Firstly, I want to extend a heartfelt thank you to everyone who has been part of the wonderful Women of the West community this year. Whether you were a speaker, a charity partner, an attendee at our networking events, or a contributor to these newsletters - your involvement has made this group the vibrant, supportive community it is.

As the year winds down, it’s natural to reflect on the challenges and triumphs we’ve faced. For many, 2024 has been a tough year. Whether personally or professionally, there’s been a general heaviness in the world that’s hard to ignore. While it’s important to acknowledge those challenges, I encourage you to take a moment to celebrate the wins along the way—no matter how big or small.

One of the best pieces of advice I’ve received from my coach is to regularly pause and recognise achievements. High achievers are often quick to notice setbacks but can overlook the wins. I’ve made it a habit to schedule 10 minutes every Friday to reflect on my weekly wins. It might sound a bit much, but it helps maintain momentum and keeps me on track.

As we approach the end of the year, I encourage you to reflect on your wins from 2024. What moments made you proud? What achievements, big or small, are worth celebrating? I’d love to hear about them—reach out and let me know!

State of the Nation 

I recently attended an insightful webinar by Indeed.com, where Senior Economist Callam Pickering shared key hiring trends for 2024 and predictions for 2025. Here are some highlights:

Low unemployment rates: Unemployment remains low and is expected to stay steady, with a slight increase predicted in 2025.

Job security is high: Only 1.4% of the workforce lost jobs as of August 2024, compared to an average of 2% between 2010–2019.

Slow economic growth: Australia’s economic growth is at 0.8%—the lowest since the early 1990s (excluding the pandemic). Government spending has been a key driver of growth.

Strong job postings: On Indeed, 94% of sectors have job posting volumes above pre-pandemic levels, with 18% more than doubling pre-pandemic levels.

Wages vs. inflation: Wage growth at 3.5% hasn’t kept pace with inflation (which peaked at 7.8%), creating a gap likely to persist for five years.

Labour Market Insights:

Labour supply vs. demand: Vacancies are decreasing, but immigration has boosted labour supply slightly. Recruitment remains challenging across most sectors.

Trends to attract talent:

• Emphasise pay transparency.
• Highlight perks like parental leave, flexibility, and diversity and inclusion initiatives.
• Build a strong Employee Value Proposition (EVP) and maintain active company pages.
  
  

Looking Ahead to 2025. Here’s what to watch for in the year ahead:

• AI continues to grow: Generative AI job postings increased by 4.8% in 2024 and will likely continue to rapidly grow further.
• Remote/hybrid work persists: Despite some pushback from employers, 13.7% of job postings mention flexibility, which remains a key driver for job seekers.
• Parental leave as a perk: Companies are refining and promoting parental leave policies to attract talent.
• Cost of living pressures: Dual jobs are rising, with 6.5% of workers now holding two or more jobs (up from 5% pre-pandemic).
• Youth employment challenges: Declines in graduate and apprentice roles could limit opportunities for younger talent.
• Diversity matters: 8 out of 10 job seekers prioritise diversity and inclusion, yet only 33% of job ads highlight these values.
• Rate cuts predicted: Callam Pickering forecasts rate cuts—but not before May 2025.
  
  

Something to inspire 

One of our inspiring past guest speakers Dr Marny Lishman has a book coming out on December 31st. Crisis to contentment is a practical and accessible guide to navigating the trials and tribulations of adulthood, reflecting on the race of “crises” that adults might experience and why it's crucial to listen to the wisdom bought forth from your emotional angst for a more contented future.

Pre-order here: Crisis to Contentment.