First the good news: job openings soared 8 percent in July to 5.75 million, the most since the Labor Department started keeping records in 2000. Now for the bad news: even though more jobs are available, hiring has dropped to below 5 million, from nearly 5.2 in June.
This suggests that businesses are having a tough time finding candidates that meet their qualifications. The emergence of new technologies and the changing needs of the economy have created a very high demand for workers with specialized skills. The only problem is, the labor market has been unable to keep up with demand.
Many of the advertised job openings are in fields that may not have even existed five or ten years ago, such as data analytics, social media marketing and cybersecurity. And what were once promising and lucrative career paths just a short time ago might now lead down a slow road or a dead end.
So what should you do if you find yourself in need of a new job, but with skills that are no longer relevant? Take a detour.
It’s difficult to turn your back on years of on the job training and education and start again. But sometimes it’s just a matter of taking what you know and going from there. Other times, it calls for taking a plunge into something entirely different for a bigger pay-off – financially and/or personally – down the road.
Not sure where to start? A good place is with yourself. Yes, there may be plenty of openings in data management, but if the work doesn’t suit you, shifting to that career for job security alone will only make you miserable. First ask yourself what you’d really love to be doing. If you’ve been working for a few years, your career goals and values might have shifted. Perhaps you’ve been exposed to careers you weren’t even aware of before. Start with what you’re drawn to and go from there.
Or if you’d like to learn about occupations that are experiencing the fastest growth, visit the Bureau of Labor Statistics’ Occupational Outlook Handbook. The site lets you search possibilities based on your education level, experience, desired pay, and, most importantly, job outlook.
According to the Labor Department, the healthcare industry is experiencing the fastest growth in jobs and wages right now. And highly skilled workers for professional service jobs in fields such as information technology, engineering and accounting are also in high-demand.
The Department of Labor’s Career One Stop is an invaluable resource for researching and planning your career and looking for jobs. The site thoroughly outlines different types of training opportunities including certifications, apprenticeships, internships and college degrees, and shows you where to find them how to pay for them. You can also check local Community colleges and college extension programs directly for certificate programs and classes on professional development.
Finally, don’t underestimate the effectiveness of asking people you know for their referrals and suggestions. You might find a mentor or somebody who’s willing to train you in your desired field. Learning a new skill doesn’t happen over night. Be patient, stay positive and enjoy the ride.
