A tale of two job markets - the one's where job hopping and security are the highest and best & those where the inverse is true:

posted by Brian Mudd - 

A tale of two job markets - the one's where job hopping and security are the highest and best & those where the inverse is true: 

Bottom Line: Numbers and stats are critically important for context of whatever you're measuring but far too often when it matters most they lack the context you need for full understanding. This is on full display with the monthly reports I bring to you with regard to the real unemployment rate and the demographics of the unemployed. Another important angle is with regard to specific industries. Here are the current industries that have the best job security, and opportunity for those who might be seeking to job hop their way to a new opportunity and perhaps more income: 

  • Professional and business services: 
  • Healthcare 
  • Insurance and insurance related finance opportunities 
  • Wholesale trade 

Here are the industries that are most at risk and have below average jobs security right now:  

  • Retail 
  • Food service 
  • Government 
  • Manufacturing 
  • Transportation/Utilities 
  • Construction 
  • Educational services 
  • Real-Estate 
  • Arts & entertainment 
  • Mining 
  • Lodging 

There are plenty of surprises on this list and not all stories are the same. For example construction and real-estate are fairly robust right now but so many people generally have flocked back to these industries that there's a bit of a glut in those working in them/seeking work in them once again. Then you have the macro trend stories that are negatively playing out. Retail, food service and manufacturing are clearly areas that have been shedding jobs and aren't likely to see meaningful improvement (save the potential for manufacturing should policy lead to manufacturing being brought back into the US). So job hopping and career switching presents great opportunities is select industries but probably is a bigger risk vs the potential reward in most.

Brian Mudd

Brian Mudd

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