The Real Job Outlook
With headlines like, "Company Moves 500 Jobs Overseas," "Industry Collapses after Economic Downfall" and "Global Enterprise Downsizes, Lays Off 1500" constantly flooding the media, jobseekers are consistently reminded of the bleak outlook of the job market. However, upon second glance, job boards, online portals and classified ads seem to suggest otherwise, spouting listing after listing preaching "Help Wanted, "Experienced Individual Needed" and "Apply Now." With the two conflicting messages, career seekers are often left confused, overwhelmed and wondering what the job outlook really is.
According to the April 2010 U.S. Department of Labor job report, 290,000 jobs were added in April, a drastically higher number than economists had predicted. However, despite the increase, there are more jobseekers than ever before, leading to stiff competition and an unemployment rate up .2 percent at 9.9 percent. In fact, the Bureau of Labor Statistics projected that there are more than five jobseekers for every open position, not including the nearly 2.5 million new college graduates, according to the California Job Journal article New Grads Face Stiff Competition.
The U.S. Department of Labor job report also cited that jobseekers with college degrees fair best in the turbulent job market. According to the Deseret News article Job Outlook for Graduates Brightens a Bit, only 4.9 percent of bachelor's degree holders are unemployed, while the unemployment rate of those with some college is at 8.3 percent, 10.6 percent for high school diploma holders and 14.7 for those with less than a high school education.
Having degree, however, does not guarantee a job. The ksl.com article Job outlook better, but not great for graduates "employers are being a little more cautious and selective" and "the hiring outlook certainly isn't as optimistic as it was two or three years ago," according to University of Utah Director of Career Services Stan Inman.
With this being said, the adage "it's all about who you know" may hold true. Thus, in addition to increasing education qualifications, enhancing social connections and status may assist candidates in finding a job.
CNNMoney.com's series Meet the long-term jobless interviewee Alan Krawitz, an unemployed Media relations specialist, said " increasing notoriety and putting yourself out there is important to finding a job as well as getting hired."
"Some of the tactics I've been employing recently include online and in-person networking events as well as social media platforms including Twitter job search and Facebook; I've also increased my networking with friends and acquaintances," said Krawitz. "I think the key is to conduct your search as a 24-hour operation; whoever you meet, anytime and anywhere is a potential job contact."
Jobseekers may also have to consider switching industries in order to stay afloat in the job market, as many traditional jobs are dying out, getting cut or being shipped overseas. Many jobseekers are finding new types of jobs in which they can use their skills as well as learn a new trade.
Annie Walsh, a 20-year veteran newspaper writer and editor, was devastated when she was laid-off a year ago due to the economy. Walsh was left even more discouraged when she didn't find any jobs in her field.
"I was sad because I lost my job and depressed when I couldn't find a new one in the industry I love," said Walsh. "Print journalism is a dying bred, every magazine and newspaper I contacted was firing, not hiring."
Walsh was forced to look elsewhere for work. Luckily, in the ever-growing online media and advertising field, Walsh found a job as a web editor.
"At first, it was hard transitioning out of print mode to meet the demands of online media," said Walsh. "However, I quickly learned that my journalism skills gave me an edge, helping me to learn new skills quickly and apply my experience effectively to improve my job."
Other sectors creating new jobs for experienced workers include health care, technology and biosciences, education, hospitality and retail, the Bureau of Labor Statistics reported. According to the PayScale.com article The Most Secure Jobs for 2010, cardiovascular technology, database administration, utilities strategic planning, accounting, marketing management, dental hygiene, interior design and occupational therapy are among the best career paths in the coming decade. Each of these career paths provide starting salaries of $50,000 or more as well as a significant predicted growth rate.
According to CNN.com, most of these job openings will be seen in small businesses and start-up companies.
"The mom-and-pop shops, garage start-ups and small businesses across the country will put Americans back on the payroll," boosted the CNN.com article Job creation? Look to entrepreneurs. In fact, the article reported that, "according to the Census Bureau, nearly all net job creation in the U.S. since 1980 has been generated by firms operating less than five years."
Self-employment may be another booming job sector. According the tampabay.com article 2010 job outlook: More self employment, weaker bonds between employer, employee, Founder and CEO Erik Vonkof BOTH, a self-employment service company, said there will be a surge in self-employment for several reasons including a lack of full time jobs, decreased pay and job security as well as "mediocre and uncompetitive benefits packages."
The real job outlook favors education and experience, promotes networking and suggests that exploring alternative industries may be necessary. Additionally, most jobs openings will be in health care, technology, education, hospitality, retail and biosciences at small business and start-up companies. The real job outlook also forecasts a surge in self-employment as returning workers seek a flexible work environment.
Article Sources
2010 job outlook: More self employment, weaker bonds between employer, employee - http://blogs.tampabay.com/venture/2010/01/st-petersburg-job-market-watcher-both-usa-which-started-up-last-year-as-a-back-office-provider-of-services-to-the-self-empl.html
Job creation? Look to entrepreneurs - http://www.cnn.com/2009/OPINION/12/04/wilkinson.jobs.smallbusiness.government/index.html
The Most Secure Jobs for 2010 - http://hotjobs.yahoo.com/career-articles-the_most_secure_jobs_for_2010-1074;_ylt=A0Kjqmn0ZuhLDEQAei0PxQt.;_ylu=X3oDMTExN2szY25nBHNlYwNzcgRwb3MDMQRjb2xvA3NwMQR2dGlkAwRsA1dTMQ--
Meet the long-term jobless - http://money.cnn.com/galleries/2009/news/0912/gallery.long_term_unemployed/3.html
Job outlook better, but not great for graduates - http://www.ksl.com/?nid=148&sid=10634864
Job Outlook for Graduates Brightens a Bit - http://www.deseretnews.com/article/700031119/Job-outlook-for-graduates-brightens-a-bit.html
New Grads Face Stiff Competition - http://www.jobjournal.com/thisweek.asp?artid=2968
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