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This report is prompted by the recent shifts in Australian vocational education and training (VET) policy towards lifelong learning and is enabled by the increasing recognition of VET 'module' study and the measurement of its outcomes. The aim is to investigate the industry and employment characteristics and outcomes of module enrollees and completers in VET. The report begins with a statistical investigation of module students and their outcomes and is based mainly on analysis of the student outcomes surveys up to and including 2000. It goes on to consider the findings of a small set of module case studies, based on 38 students, mostly employed, undertaking a variety of trade and business related modules at five TAFE institutes in New South Wales (NSW), South Australia (SA) and Australian Capital Territory (ACT). The findings are that most of the employed students are studying to upgrade their skills and knowledge for their existing jobs or businesses. The unemployed students are choosing modules to update their skills in order to re-enter the workforce. The report concludes that the quantity and quality of measurement and research of modular study do not do justice to its proven utility to VET clients. There is a case for more intensive research and measurement of module study and the factors associated with successful outcomes and employment as well as a greater focus on modular provisions in national and state VET plans.