3: Recognizing Trends
Recognizing trends that impact the labour market is an important skill for both CDPs and their clients. But what is a trend? What makes it different from a fad? Why are trends relevant to our understanding of the labour market?
Fads vs Trends vs Megatrends
Duration and consistency are the key elements that differentiate fads, trends, and megatrends.
Fads
Short-term
A fad is a fashion, style, or craze that is temporary and has no consistent direction over time.
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Examples
- Pet rocks
- Furbies
- Fidget spinners
- Celery juice trends
- Fashion crazes such as hammer pants
Trends
Medium-term
A trend is a general direction in which something is developing or changing in a way that has longevity, reflecting an ongoing shift lasting years.
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Unlike fads, trends show a more sustained pattern of growth or change. Trends can be triggered or disrupted by unexpected events. and often provide useful clues about future opportunities in the labour market.
Examples
- Growth in remote and hybrid work
- Increased use of artificial intelligence in workplaces
- Expansion of online learning
- Rising demand for digital skills
Megatrends
Long-term
A megatrend is a long-term pattern of change that shapes society, economies, and labour markets over decades.
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Megatrends typically last 20 years or more and continue despite short-term events or disruptions. Because they influence many industries and occupations, they are especially valuable when exploring future labour market opportunities.
Examples
- Population ageing
- Urbanization
- Globalization
- Climate change
- Technological advancement and automation
Trends and Their Impact
Fads, trends, and megatrends can all affect the labour market and career opportunities. The impact of trends and megatrends tend to be more stable and lasting. Trends and megatrends point us to impacts that may be more sustained and to possible opportunities that may be more widespread and lasting in the labour market.
As the 8 forces act on the labour market, trends can provide both new challenges and new opportunities. Trends can be local, regional, provincial, national, and even global. For example:
What trends have you encountered in your work that have impacts on the labour market and on those you serve?
Think of a trend you have noticed in your work. In the space below, provide your own example of a trend, the labour market force it relates to, and its impacts.
Labour market trends and the 8 forces that influence the labour market are constantly shifting the labour landscape.
To further explore these relationships, download the Real Trends worksheet. You can use this to identify a trend associated with each force and that trend’s impact on employment and opportunities. Consider using it as a tool to stay current in your own thinking about what is happening in your labour market or even as a discussion guide at a staff meeting so that your whole team can consider what is happening in the labour market and its impact on service delivery.
