A frequently asked question in the job seeker interviews I give to recently departed employees is; what is the job outlook, which is really a good question and a necessary one as it is the one that inevitably comes up in any conversation about the future of the economy. The last best year for job growth was 2021, which by the way, was the worst year for job growth since the Great Depression, so what is the job outlook for 2021? Now then, many people may be scratching their heads and wondering what on earth you are supposed to say in this regard as the past few years have proven that an increasing number of occupations are in danger of closing their doors forever. Well, let me explain;
I will tell you and illustrate with examples from my own field, as an electronics technician, that the outlook for a fast-growing career is still excellent. Many nontraditional occupations are experiencing double-digit increases in their numbers every year, projected to continue to do so in the future. Take, for example, the high-tech professions, which are projected to create over three million new jobs in 2021, with nearly two million of those being computer technicians. Computer technicians are also forecast to expand their job numbers by nearly five thousand and their hourly earnings by over forty thousand dollars in the next two years. So in this regard, it is clear that the computer technician job outlook is excellent.
Another example that many people ask me about, which is a bit more in-depth and goes a bit more into the future than the previous examples, is the healthcare industry. One of the sectors that have seen a tremendous increase in job opportunities in recent times, which is predicted to continue to do so soon, is the healthcare industry, especially the health care technician occupation. Currently, there are over eleven thousand new openings for registered nurses, which are currently available in the United States. That represents an increase of nearly five thousand jobs in just under two years. Obviously, the health care technician occupation is not going anywhere as one of the top career fields. Therefore I believe the health care technician job outlook is strong and will be around for many years to come.
What Is Job Outlook?
The job outlook is the change in the number of people employed in a certain occupation over a selected period of time. The period of time is usually two, five, or ten years. Job Outlook describes a company’s or an industry’s expectation of adding employees or subtracting employees in a year. The job market is always changing, and most careers inevitably experience ups and downs. To understand which direction your future or current career is going, you must first understand its internal job outlook.
What’s the best way to interpret an organization’s job outlook? One method is to compare the percentage of people with the same qualifications currently unemployed with the total number of currently employed people in the same career fields. Another method is to use the proportion of people with the same qualifications available in the labor force versus those who are not. Another way is to analyze the demand for skills in the labor force and the supply of skills.
The current job market situation can affect various occupations in different ways. One way is to analyze what employers are looking for. For example, if you are currently employed in a career field projected to experience a significant average increase (such as computer sales), you may want to examine these job openings and see if they will be filling up soon. On the other hand, if you are currently employed in an occupation that is not projected to experience an average increase (such as office administrative positions), you should examine why these positions are empty. Are there more people applying for these positions? Are the qualifications required to fill them becoming increasingly more difficult?
Another way to interpret the job outlook or growth rate is to look at the long-term average increase or decrease of a particular occupation’s wages and salaries over time. When an occupation experiences a significant average increase (an example would be an office position that is currently worth fifty dollars per hour) and the job outlook for this occupation grows at a rate of over two percent, this may indicate that this is the time to get into this occupation. Over a period of a few years (over several years in this case), the two-percent average increase might grow to five percent, ten percent, or even fifteen percent. This could result in the need for additional workers in this occupation over time.
On the other hand, if the job outlook for these occupations falls significantly (this might happen due to the recent economic slowdown in some areas), the two percent average decrease in salary may actually mean that jobs will become available. If there are not enough candidates, employers will have to decide whether to retain some of their employees. If there are too many candidates, though, the employer will have to cut back on the number of positions.
One of the first career fields affected by the recent changes in the healthcare field. Technicians in health care occupations listed as “Human Services” experienced a slight decrease in salary in 2021. This is because there are many job openings for a variety of healthcare technologists within the healthcare industry. An area of employment such as this that tends to stay stagnant overtime is “Home Healthcare.”
You may be interested in the IT career field. There is a negative job outlook for this field, but if you have the education and certification programs required to secure the position, the job outlook should improve. In IT, several different career fields suffer from a poor job market outlook, but IT professionals can find work in this field if they search carefully. It might be necessary to further your education or get specialized training to be competitive in the IT job market.
As of the writing of this article, there is still hope for the healthcare industry. Technicians are suffering from a shrinking occupation; however, none of the healthcare careers suffer a decline in popularity. In fact, the number of people interested in what is on the horizon in the human service professions is increasing daily. This type of career will likely increase as more people can afford healthcare coverage. The number of professionals entering into this field is also increasing due to a need for caregivers in our aging population.
EXAMPLES OF JOB OUTLOOKS IN THE US
According to the Bureau of Labor and statistics in the US, the following Jobs have the best outlook and growth rate from 2019-2029; Occupational therapy assistants, Statisticians, Home health and personal care aides, Physical therapist assistants. We will discuss them briefly.
JOB OUTLOOK FOR OCCUPATIONAL THERAPY ASSISTANT
The unemployment rate for Occupational Therapy Assistants is not going to go down any time soon. There are a lot of reasons why this happens, but the biggest one is the economy. The growth rate for these employment positions is about 35% per year, very high, which means that there will always be jobs available for them. If you have been thinking about becoming an OT assistant, you should look into getting some certification.
There are many options out there for those looking to be certified to help patients with mobility problems or arthritis. If you look at the overall growth rate for these kinds of assistants, you will see they are expected to grow much faster than average. With this being said, it will take some time before the shortage ends to have more openings in your area. It will also take time for the technology needed to do all the work properly with the equipment to get to the point where it is usable.
JOB OUTLOOK FOR STATISTICIANS
The job outlook for statisticians is strong. This is because there are a variety of jobs available for these trained individuals. A statistician is typically someone who works with statistical or economic data. The job typically exists in both the public and private sectors. It’s common to combine statistical experience with other areas, such as business management or business research. Many statisticians can work as independent contractors or as employees in companies that need such skills.
The private sector is typically the fastest growing area for this type of position, with an annual growth rate of 35%. This role requires at least a bachelor’s degree in either business or mathematics. Several private sectors are entering into the business-driven analytics field, including software development, information systems, health care, insurance, and retail sales and distribution. To perform statistical analysis, it’s often necessary to understand data gathered from many different sources, so having an earned graduate degree in either business or mathematics is highly recommended.
JOB OUTLOOK FOR HOME HEALTH AND PERSONAL CARE AIDES
The growth rate for home health and personal care aides is expected to be around 34% over the next ten years. This growth rate makes this an excellent career opportunity. The most popular career for home health and personal care aides is housekeeping. Those interested in helping people keep their homes in order and fixing up things that are broken or need immediate attention may have a good future with this type of work. Cleaning the home, dusting, vacuuming, and helping with errands are all things that home health aides can do. Those interested in working full-time with patients may want to check into getting a job at a nursing home or long-term care center.
Another option for those interested in the home health care field is becoming a licensed aide. This training program can take about one year on campus or be completed online and requires that you pass a state certification exam before beginning your career. There are several different programs available, but most require at least a year of study and the certification exam. The pay is usually better, but there is no real guarantee that you will become qualified as home health and personal care aide.
Other professions with promising job outlooks include; Solar photovoltaic installer, wind turbine technician, Information security analyst and physician assistant.
WHAT IS THE JOB OUTLOOK FOR THE FUTURE IN THE U.S?
There are many economic indicators out there that you can use to get a good feel for the future job outlook. The employment rate is an important indicator, as this is a measure of how many people are working and how many people are in the population. Naturally, the number of employed people should increase while the number of unemployed people decreased. If the employment rate continues to rise, then it is considered a positive sign. When it drops below the level that would be considered negative, then that is considered a negative sign.
One of the other indicators that you need to look at closely is the job outlook for the future is how fast the economy is growing. When the economy expands at a fast rate, more people are working, and therefore the number of jobs is growing. Therefore, you will have more people with which to compete for available positions. Another thing to consider is the number of people getting married and having children. When the marriage rate rises, more parents are raising their children independently, which leads to an increase in employment.
The cost of living also plays an important part in determining what the job outlook for the future is. In today’s market, most people are experiencing a difficult time paying their bills. The unemployment rate has not reached the lows that many economists had hoped it would reach. The cost of living has continued to increase, which leaves many people wondering how they will get by. If you increase your spending habits to make ends meet every month, you will soon find yourself in a debt trap. If you start to save money, that can lead you to a better employment rate and enable you to afford more things.
The one thing that everyone should consider when wondering what the job outlook for the future is is the economy’s state. It would be a mistake to think that the economy’s state has nothing to do with what is the job outlook for the future. On the contrary, the state of the economy can impact the way people see the future. If the unemployment rate continues to rise, it would be better to focus on the job outlook for the future and plan your spending instead of worrying about the state of the economy. The two go hand in hand, and having some extra money at the end of each month can help you pay off your debts and enjoy life more.
As the baby boomers reach retirement age, there will be less competition for jobs. The government and employers both know this gives you the perfect opportunity to invest in yourself and your future. When you have a good education and a decent skill set, you can count on finding a good job. As the baby boomers begin to reach old age and the number of those entering retirement increases, the need for the future job outlook will also begin to increase.
Also read Job Specialization Definition, Example, Pros, and Cons