Labor Market Trends

The new millenium is upon us. Much has been written about the changes in our society from a manufacturing based economy to a service based economy, especially in the labor market. Several major trends affecting both the work force and the work place have resulted. A number of factors are involved and you should consider each of them and how they might impact your career plans.

• Over 1 million new jobs are created each year and will continue to be created at the rate of 1 to 2 million each year.
• Increase in contingency workers.
• The need for a smarter work force with specific technical skills will continue.
• A major shortage of skilled craftspeople is expected.
• More women will continue to enter the workforce.
• More immigrants will enter the U.S. to meet labor shortages at all levels.
• The number of small businesses will continue to increase.
• Continued decrease in job security.

The hottest jobs, (those offering excellent pay, advancement, and security), continuing into the 21st century, are those in the areas of healthcare and high-tech service industries.