Woman Around Town’s Editor Charlene Giannetti and writers for the website talk with the women and men making news in New York, Washington, D.C., and other cities around the world. Thanks to Ian Herman for his wonderful piano introduction.
The Bureau of Labor Statistics released the latest job numbers on Friday, October 3rd, and it tells two stories.
The first is that more people are finding work. The unemployment rate dropped from 6.1% to 5.9% in September. The second is that more people are stopping their job search. What does it all mean for you?
I always say stop watching the news if you’re looking for work. The reason is that we are likely to hear reports and expect to see the world change tomorrow and that’s not always the case. It can also simply take the air out of your sails if you hear any negativity.
However it is helpful to know what’s going on at a glance and to let the good news sneak in when it’s out there.
This jobs report is in many ways just that: good news. Yes wage growth (the aggregate or average amount salaries went up for a particular group) is stagnant and many of the long-term unemployed are dropping out of the work force, but there are new jobs out there being filled, 248,000 of them last month alone.
Segments that added jobs were employment services (34,000 added), management and technical consulting (12,000 added), architectural and engineering services (6,000 added).
This tells us the new jobs being created are in need of re-trained workers.
Technology has a huge impact on the economy and the addition of computers everywhere means fewer people are needed to work in the old way, and the people who are needed now must know how to work with computers. Think of how robots are being used on assembly lines in manufacturing plants for one example.
Want a job? Learn a computer skill. Almost any will make you a more attractive candidate and here’s some free or inexpensive places to learn:
Using data to create employment projections for the next American workplace.
Many Americans are trying their best to navigate the current job market and need to keep their focus on today. Who can afford to be making long-term plans in difficult times? Hard to believe but times like these are often the best opportunity to take a look ahead.
In 2012 the U.S. Department of Labor put out Employment Projections for the ten year period of 2012 to 2022. Using this data we can paint a broad portrait of the future job market but remember–don’t get too hung up on it.
Healthcare and construction show promise.
The 30 occupations with the largest projected increases in employment from 2012 to 2022 will account for nearly half of the total projected employment growth. Of those 30 occupations, 14 of those are in healthcare and 5 are related to construction. Software developers, salespersons, and management analysts are also expected to see high percentage increases in job growth.
Something for everyone.
Nineteen of the 30 occupations projected to grow the fastest will require some postsecondary education but two-thirds of the 30 occupations with the largest growth projections will not.
Boom Time.
Due to the growth of the baby-boomer generation over one-quarter of the workforce will be made up of those 55 and older.
What does all this mean? It just gives those considering options more information to make a decision. Everyone knows healthcare, construction, finance, insurance, and law are all good bets for future job seekers. But what if those aren’t your thing? As always look inward when asking the important questions.
Here’s how to stay (sanely) in the moment while steering toward a destination.
Do what you want. Following your passions over the long haul will almost always be the right road. After reading the rest of this article, write down what you want to be doing 5 or 10 years from now. THAT is your map.
Know data is not definitive. Don’t let it rule you. Let it inform you.
Go after a skill, not a title. Think of what it is you can produce or provide. What value you bring is more important in the future than the title on your door.
Jason Veduccio is the author of The New American Dreamer: How to Land That Ideal Job in a Nightmare Economy. Click to buy.
Jason Veduccio is the author of The New American Dreamer: How to Land That Ideal Job in a Nightmare Economy. Click to buy.