It’s been a challenging couple of years and the pandemic is still changing the way people work. As the new year rolls on in, it’s important to be aware of the latest job trends that have taken the workforce by storm.
Here are seven important trends in the job market that everyone in the workforce should be aware of.
There’s a Lot of Job Growth in Some Industries.
While employment rates are still low in some industries, job growth is growing historically fast in many different sectors in the workforce. Jobs in the leisure, personal care, mining, hospitality, and education fields are opening up at unexpectedly high rates, and most other jobs are also growing at rates similar to pre-pandemic times. This is creating a large gap between the number of people employed and the number of jobs on the job market.
Other Industries Will Take Longer to Recover From the Pandemic.
Due to the mysterious and unpredictable nature of the pandemic, many industries will have a hard time bouncing back in 2023. Industries such as transportation, commercial banking, nursing, caregiving, and nonresidential construction are just some of the areas that are taking much longer to recover than others.
As the virus mutates, it continues to affect other countries as well as our own. It is expected that jobs related to international tourism will also remain stagnant until at least 2023.
For Some Jobs, Remote Work is Here to Stay.
After endless months of working from home, many employers and employees agree that remote working can actually be beneficial. Some studies show that remote working can actually increase employee productivity and engagement while driving down overhead costs for employers. This job trend may be one of the largest shifts in American workforce history.
If you’re looking for new employees, advertising on your job listing that you allow for remote work opportunities may be a great way to find new talent.
Tech Employers Are Geographically Expanding their Candidate Pools.
Before the pandemic era hit, many companies in the tech industry relied on employees who physically lived in Silicon Valley and other major tech cities. Due to the shift to remote work, tech employers have been able to expand their candidate pools or even relocate outside of traditional tech hubs.
Labor Shortages Are Still High, and Some Employers Are Reacting.
The labor market has been experiencing a major strain. This job trend is expected to continue well into the new year. Employers with unfilled positions and the number of people voluntarily quitting their jobs are at a historic high.
Due to these labor shortages, many employers are starting to lower their expectations when it comes to their new hires. Some business owners are offering sign-on bonuses, raising starting salaries, and offering more extensive on-the-job training and learning.
While Wages Have Grown, so Has Inflation.
For decades, inflation was a non-issue. Large-scale inflation in 2021 has affected many employers and employees, and we will continue to see the impacts of this inflation in 2022. Inflation is most likely going to drive wages up in the new year.
Much of the Economy Has Moved Away From Central Business Districts.
The pandemic has pushed remote work and stay-home orders on society for over 17 months. This has caused some people to flee from city centers and move to cheaper housing markets in the suburbs and exurbs. Industries such as real estate and local business have seen a major shift from dense central business areas to less dense suburban areas.
Get Help From A Staffing Agency Today
Job trends are important to keep up with if you want to attract the best talent on the job market. If you need help getting connected to the perfect employees, contact LG Resources. We use comprehensive screening processes to find the best candidates for each open position you have.