2013 Job Market Forecasts – What to expect in your job search

Jan 2 2013 in Employment Economy, Featured, reCareered Blog by Phil Rosenberg

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Welcome to 2013!

If part of your New Year’s resolutions included getting a new job, getting your first job, or getting back to work, you’ll want to get a clear understanding of what to expect in the 2013 job market.

You’ll find some differences in the 2013 job market which may be critical to you, depending on your individual circumstances. Some of those difference may help your 2013 job search, others may hint at unexpected difficulties.

We’re past the immediate scare of the fiscal cliff, thanks to last second haggling of our ineffective legislative branch – seriously, this should have been done months ago, rather than playing holding the US economy hostage). So now that fears of a US Economy collapse behind us, here’s what you should expect in the 2013 job market.

I’ve included my personal observations, along with other career and economic experts to give a comprehensive look at the 2013 job market – The Good, the bad, and the downright ugly.

2013 job markets will look a lot like 2012 – Here’s why:

When you hear economists talk, they describe the US economy as a “slow recovery” or even a “jobless recovery”. Even though companies are new record profitability, few will be hiring quickly – because most company profitability is being driven by productivity rather than high demand for products and services. Corporate executives are directing hiring managers “to do more with less”, continuing to drive profits via productivity.

Here’s what that means to you: Companies who do more with less are not the job seekers’ friend, because these companies are reluctant to hire. Expect continued mass job competition, averaging 1,000 applicants per advertised job. Job competition could increase further as Monster releases its mass job application technology and as Linkedin’s application button is utilized by more employers. The simpler it becomes to apply for jobs, the more competition will increase.

Here’s what some others predict about the 2013 job market:

“The unemployment rate peaked at 10% in late 2009. Since then, it has only fallen to 7.7% as of November, suggesting the long slog is likely to continue into the New Year. ” (Fortune.com)

“The economy is expected to create 2.36 million jobs, slightly more than the estimated 1.9 million that’s estimated for 2012, according to IHS Global Insight.” (CareerBuilder.com)

CareerBuilder’s 2013 U.S. job forecast, surveyed more than 2,600+ hiring managers and human-resources professionals from a variety of industries and company sizes. CareerBuilder reported that while 60+% of employers report a better financial position than last year. only 26% plan to add full-time, permanent employees (up 3% over last year). However, employers headcount reductions is up 2% over 2012, making the job market look a lot like last year.

Those who have been out of work for longer periods will still face challenges. Bias against the unemployed is still rampant – The Career Advisory board found that 56% of hiring managers agreed that their companies often refuse to consider an unemployed candidate. Candidates in career transition still need to find ways to better differentiate themselves so employers will look past periods of unemployment, because that candidate is seen as superior.

What’s looking different in 2013

  1. Health Care: Shortages of home health care professionals and experienced nurses continue into 2013. High demands for Physician Assistants and Nurse Practitioners should accelerate as health care continues to drive towards greater efficiency.
  2. Social Media Experts: While marketing hiring is relatively flat, social media, multimedia, digital media marketing are on the rise, with companies reporting as great as 50% increases according to Monster.com.
  3. New College Grads: According to a survey of employers conducted by the National Association of Colleges and Employers, Employers anticipate hiring a 13% increase in Class of 2013 college graduates than last year.
  4. Oil and Gas: With the increase in domestic shale oil/gas discoveries, demand continues to increase for new employees with Oil and gas experience.
  5. Alternative Energy: With fiscal cliff compromise legislation extending alternative energy tax credits, there’s continued demand for experience in wind and solar energy production, battery technology.
  6. Construction: The economy is expected to add 100,000 jobs in homebuilding and other construction work, according to Marisa Di Natale, economist at Moody’s Analytics. While this number is tiny compared to the construction jobs lost since the Great Recession, it’s expected to be the first net increase in construction employment since 2007.
  7. Mining: The high price of silver, gold and other precious metals are keeping mining a hot job market. There’s a whole lot less people with gold mining experience than the days of the Gold Rush, but increasing prices and improved technologies encourage long closed mines to go back into production. This makes a strong job market for those with mining experience.
  8. State/Local Government: Years of lower real estate taxes, lower income taxes, and cuts in Federal support led to continued State and Local government layoffs. Governments are expected to hire again, according to Di Natale, after years of layoffs, almost no hiring and as the housing market recovers. 70,000 new jobs are expected for state governments in 2013.
  9. Selected Federal Government Hiring: Don’t expect increase Federal hiring in all departments, but it can be anticipated for specific areas in 2013. Immigration reform will bring needs for new federal positions to administer the legalization process, teachers to help immigrants pass citizenship tests, bilignual social service providers (new immigrants will be eligible for healthcare). The FBI, CIA and military will increase hiring people who speak Arabic and have Middle East cultural experience to help protect against terrorism, Iran’s nuclear threat, and other increasing Middle East risks. Obama’s reelection and Republican legislatures’ fear of being out of touch with mainstream America’s needs should reduce Tea Party influence and calls for broad federal spending cuts.
  10. A contrary view – Unemployment/Underemployment will rise: There’s a perfect storm for increased unemployment: returning vets, boomers that can’t afford to retire, 12 million illegal immigrants now eligible for legal employment, a sluggish economy here and worldwide, relative strength in China, people-replacing technology such as voice and pattern recognition. Add to this increased payroll costs of hiring Americans – including Obamacare, paid family leave, rising workers compensation costs (Source: USNews.com).

No one has a crystal ball when it comes to hiring.

But these are some guidelines to consider when planning your 2013 job search. It’s wise to understand your own industries trends, the relative competitiveness of the job market, and what’s hot/what’s not.

Happy New Year to all and best of luck in your 2013 job search!


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Source: http://reCareered.com
Author: Phil Rosenberg

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