Four Important Labor Market Trends That Will Affect Your Career
Our economy has changed over the past years, with profound effects on how we work and live. Here are four trends that you must consider in making your career plans.
1. Education Pays
I'm sure you won't be surprised to learn that people with higher levels of education and training have higher average earnings. The data that follows comes from the U.S. Department of Labor. I've selected data to show you the median earnings for people with various levels of education. (The median is the point where half earn more and half earn less.) Based on this information, I computed the earnings advantage of people at various education levels over those who did not graduate from high school. I've also included information showing the average percentage of people at that educational level who are unemployed.
| Earnings for Year-Round, Full-Time Workers Age 25 and Over, by Educational Attainment | |||
|---|---|---|---|
| Level of Education | Median Annual Earnings | Premium Over High School Dropouts | Unemployment Rate |
| Master's degree | $53,200 | $33,400 | 2.9% |
| Bachelor's degree | 45,000 | 25,200 | 3.3 |
| Associate degree | 33,600 | 13,800 | 4.0 |
| Some college, no degree | 31,100 | 11,300 | 5.2 |
| High school graduate | 27,700 | 7,900 | 5.5 |
| High school dropout | 19,800 | ---- | 8.8 |
As you can see in the table, the earnings difference between a college graduate and someone with a high school education is $17,300 a year-enough to buy a nice car, make a down payment on a house, or even take a few months' vacation for two to Europe. As you see, over a lifetime, this earnings difference will make an enormous difference in lifestyle.
The table makes it very clear that those with more training and education earn more than those with less and experience lower levels of unemployment. Jobs that require education and training beyond high school are projected to grow significantly faster than jobs that do not. People with higher levels of education and training are less likely to be unemployed and, when they are, they tend to remain unemployed for shorter periods of time. There are always exceptions, but it is quite clear that a college education results in higher earnings and lower rates of unemployment.
2. Knowledge of Computer and Other Technologies Is Increasingly Important
As you look over the jobs in this book, you may notice that many require computer or technical skills. Even jobs that do not appear to be technical often call for computer literacy. Managers, for example, are often expected to understand and use spreadsheet, word-processing, and database software.
In most fields, people without job-related technical and computer skills will have a more difficult time finding good opportunities because they are often competing with those who have these skills. Employers tend to hire people with the skills they need, and people without these abilities won't get the best jobs. So, no matter what your age, consider upgrading your job-related computer and technology skills if you need to-and plan to stay up-to-date.
3. Ongoing Education and Training Are Essential
School and work once were separate activities, and most people did not go back to school after they began working. But with rapid changes in technology, most people are now required to learn throughout their work lives. Jobs are constantly upgraded, and today's jobs often cannot be handled by people who have only the knowledge and skills that were adequate for workers a few years ago.
To remain competitive, you will need to constantly upgrade your technology and other job-related skills. This may include taking formal courses, reading work-related materials and Web sites, signing up for on-the-job training, or participating in other forms of education. Upgrading your work skills on an ongoing basis is no longer optional for most jobs.
4. Good Career Planning Is More Important Than Ever
Most people spend more time watching TV in a week than they spend on career planning during an entire year. Yet most people will change their jobs many times and make major career changes five to seven times. For this reason, it is important to spend time considering your career options and preparing to advance.
While you probably picked up this book for its information on jobs, it also provides a great deal of information on career planning. For example, Part I offers an assessment to match your skills to the fastest-growing jobs. Part III gives good career and job search advice. Part IV has useful information on labor market trends. I urge you to read these and related materials because career-planning and job-seeking skills are the keys to surviving in this economy.
Tips on Using This Book
This book is based on information from a variety of government sources and includes the most up-to-date and accurate data available. The job descriptions are well written and pack a lot of information into a brief format. 100 Fastest-Growing Careers can be used in many ways, and this discussion provides tips for the following individuals:
- Students and others exploring career, education, or training alternatives
- Job seekers
- Employers and business people
- Counselors, instructors, career specialists, librarians, and other professionals
Tips for People Exploring Career, Education, or Training Alternatives
100 Fastest-Growing Careers is an excellent resource for anyone exploring career, education, or training alternatives. Many people do not have a good idea of what they want to do in their careers. Others may be considering additional training or education but may not know what sort of training they should get. If you are one of these people, this book can help in several ways.
Review the list of jobs. Trust yourself. Research studies indicate that most people have a good sense of their interests. Your interests can be used to guide you to career options you should consider in more detail.
Begin by looking over the occupations listed in the table of contents. Look at all the jobs, because you may identify previously overlooked possibilities. If other people will be using this book, please don't mark in it. Instead, on a separate sheet of paper, list the jobs that interest you. Or make a photocopy of the table of contents and use it to mark the jobs that interest you.
Next, look up and carefully read the descriptions of the jobs that most interest you in Part II. A quick review will often eliminate one or more of these jobs based on pay, working conditions, education required, or other considerations. After you have identified the three or four jobs that seem most interesting, research each one more thoroughly before making any important decisions.
Match your skills to the jobs in this book using the Job-Match Grid. Another way to identify possible job options is to answer questions about your skills and job preferences in Part I, "Using the Job-Match Grid to Choose a Career." This section will help you focus your job options and concentrate your research on a handful of job descriptions.
Study the jobs and their training and education requirements. Too many people decide to obtain additional training or education without knowing much about the jobs the training will lead to. Reviewing the descriptions in this book is one way to learn more about an occupation before you enroll in an education or training program. If you are currently a student, the job descriptions in this book can help you decide on a major course of study or learn more about the jobs for which your studies are preparing you.
Do not be too quick to eliminate a job that interests you. If a job requires more education or training than you currently have, you can obtain this training in many ways.
Don't abandon your past experience and education too quickly. If you have significant work experience, training, or education, do not abandon it too quickly. Many people have changed careers after carefully considering what they wanted to do and found that the skills they already had could still be used.
100 Fastest-Growing Careers can help you explore career options in several ways. First, on a separate sheet of paper, list the skills needed in the jobs you have held in the past. Then, using the descriptions in this book as a reference, do the same for jobs that interest you now. By comparing the lists, you will be able to identify skills you used in previous jobs that you could also use in jobs that interest you for the future. These "transferable" skills form the basis for moving to a new career.
You can also identify skills you have developed or used in nonwork activities, such as hobbies, family responsibilities, volunteer work, school, the military, and extracurricular involvements.
If you want to stay with your current employer, the job descriptions can also help. For example, you may identify jobs within your organization that offer more rewarding work, higher pay, or other advantages over your present job. Read the descriptions related to these jobs, because you may be able to transfer into another job rather than leave the organization.
Tips for Job Seekers
You can use the job descriptions in this book to give you an edge in finding job openings and in getting job offers- even when you are competing with people who have better credentials. Here are some ways 100 Fastest-Growing Careers can help you in the job search.
Identify related job targets. You may be limiting your job search to a small number of jobs for which you feel qualified, but by doing so you eliminate many jobs you could do and enjoy. Your search for a new job should be broadened to include more possibilities.
Go through the entire list of jobs in the table of contents and check any that require skills similar to those you have. Look at all the jobs, since doing so sometimes helps you identify targets you would otherwise overlook.
You may wish to answer questions about your skills and job preferences in Part I, "Using the Job-Match Grid to Choose a Career." Your results can help you identify career options that may suit you.
Many people are not aware of the many specialized jobs related to their training or experience. The descriptions in 100 Fastest-Growing Careers are for major job titles, but a variety of more-specialized jobs may require similar skills. Reference books that list more-specialized job titles include the Enhanced Occupational Outlook Handbook and the O*NET Dictionary of Occupational Titles. Both are published by JIST.
The descriptions can also point out jobs that interest you but that have higher responsibility or compensation levels. While you may not consider yourself qualified for such jobs now, you should think about seeking jobs that are above your previous levels but within your ability to handle.
Prepare for interviews. This book's job descriptions are an essential source of information to help you prepare for interviews. If you carefully review the description of a job before an interview, you will be much better prepared to emphasize your key skills.
Negotiate pay. The job descriptions in this book will help you know what pay range to expect. Note that local pay and other details can differ substantially from the national averages in the descriptions.
Tips for Employers and Business People
Employers, human resource professionals, and other business users can use this book's information to write job descriptions, study pay ranges, and set criteria for new employees. The information can also help you conduct moreeffective interviews by providing a list of key skills needed by new hires. You and your employees can consult the job descriptions when planning lateral moves and promotions.
Tips for Counselors, Instructors, Career Specialists, Librarians, and Other Professionals
Counselors, instructors, librarians, and other professionals will find this book helpful to clients and students who are exploring career options or job targets. You can help clients and job seekers by encouraging them to review the table of contents to find jobs of interest. You may wish to familiarize them with the structure of the job descriptions so that they can find the information they need easily.
My best suggestion to professionals is to get this book off the shelf and into the hands of the people who need it. Leave it on a table or desk and show people how the information can help them. Wear this book out. Its real value is as a tool used often and well.