Things That Will Affect Your Job Market

Factors in Job Market Possibilities Globalization Economy Technology Workers & Population Trends Medical & Biomedical Discoveries

Globalization: A Smaller World What happens in a far-off place now may have a major effect on your work opportunities. All countries have close financial ties with one another, so an event in one country affects another. More competition for businesses—harder to corner the market on a particular good or service. It means no citizen is limited to working within the US borders, businesses hire more contract labor which means that labor can contract with more than one biz, but it means less security, less benefits, but more individual entrepreneurial freedom.

The Economy Overall economy slowdown=fewer jobs A downturn in one sector usually means an upsurge in another. (ex: stock plunge, real estate boom…) Flexibility and other alternate/simultaneous career options will forever be desirable as a result of this “new” economy

Technology This has changed everything about life and work forever. We now have jobs that didn’t exist before the computer and we have jobs that are no longer needed or “no growth” areas. Historically this has always happened with new inventions... A skills shortage occurs when workers cannot keep up with new technology

The Workers and Population Trends Retiring “baby boomers” (born 1944 to 1964) will lead to a people demand. GenX is a much smaller group and there won’t be enough skilled people to fill vacancies. Not only will there be a labor shortage, but a skills shortage as well…the GenX-ers will not have the experience/knowledge to do those jobs left vacant. New jobs will also be created that will cater to Baby Boomers’ needs. (can you guess what in what areas the new jobs will be??)

This one event has made more an impact as far losing jobs and creating new jobs In the actual catastrophe itself, 34.5 million sq. ft. of office space was damaged or lost. Security, hospitality, transportation, government—all were affected.

Medical/Bio-Medical Discoveries The Human Genome Project (begun in 1990 and just recently completed) has had a major impact on the job market by opening opportunities for all kinds of medical research. Every job created by a research discovery creates almost 3 jobs that result form those jobs—it is exponential—just like the computer. Growing 3 rd world countries and food supply.

L 3= Lifelong Learner Because of the computer and other technology, life will continue to move faster and change will occur more quickly! We all will have to make SHIFTS in our knowledge and life style throughout our life –even into old age! Nothing will be a SURE THING!!!

You know what they say….. SHIFT HAPPENS…