Since the pandemic began, the U.S. labor market has seen no shortage of twists and turns — from record-breaking job losses to the Great Resignation. And now in 2023, workers are facing yet another uncertain year.According to a recent survey of 1,300 CEOs by KPMG, more than half of U.S.
CEOs are considering layoffs in anticipation of a recession. But despite foreboding research and high-profile layoffs, some suggest that the labor market is, and will remain, remarkably resilient.This is the first prediction of Glassdoor and Indeed's Hiring and Workplace Trends report. Researchers surveyed thousands of workers and consulted with economists to determine what turns are in store for workers in the year ahead.
Here are the five biggest trends they predict.1. A tight labor marketDespite concerning job cuts at high-profile tech companies, the report suggests that workers will have the upper hand in the labor market next year.'As a result of recent news about layoffs and hiring freezes, it seems natural that the unemployment rate will increase over the next few months — coming off historic lows,' says Aaron Terrazas, chief economist at Glassdoor. 'As big as they may feel, it's important to keep in mind that recent layoff announcements, which total in the tens of thousands, are a tiny fraction of the 160 million jobs nationwide.'Terrazas and his team suggest that even a recession will not significantly impact the labor market because the working-age population continues to fall in countries like Canada, China, France, Germany, the United Kingdom and the United States.This limited supply of workers is expected to keep employers hungry for talent and to limit dramatic spikes in unemployment.'Economies of many countries could slow or even fall into recession as central banks work to lower inflation.
But even if employers' hiring appetites fade, the supply of workers seems likely to remain tight in the long run,' reads the report, citing falling shares of workers between the ages of 25 and 54. 'Workers will continue to have the leverage to press for higher pay, stronger benefits, scheduling flexibility and a variety of other perquisites.'2. Remote work is here to stayOne of the most popular policies that workers will use their leverage for will be the option to work remotely, according to the report, which found that workers are consistently interested in remote work.'We haven't yet cracked the code on remote work.
But I think it's safe to say that the cat is out of the bag, and remote work works,' says Svenja Gudell, chief economist at Indeed.On Indeed, 8.6% of U.S. job postings mention remote work (up from 2.9% before the pandemic), and 9.8% of workers' job searches mention remote work (up from 1.7%).3. Boosted benefitsBoth of the job sites found that employers are increasing their benefits — and advertising them — in order to attract talent.'In the U.S., these benefits provide employers ways to differentiate their organizations and sweeten job offers, especially in occupations at the lower end of the wage scale that typically require in-person attendance, like childcare or food preparation and service,' reads the report.Researchers found that between 2019 and 2022, the percentage of low-wage sectors offering paid time off as a benefit increased significantly from 17% to 34%.And employers are also increasingly offering mental health benefits.
In 2022, 63% of benefit reviews on Glassdoor mentioned 'mental health care,' up from 49% in 2019. Current predictions indicate that the labor market is, and will remain, remarkably resilient. UNSPLASH 4.
Happiness as a measure of successThe report suggests that workers prioritize their happiness and well-being more than they did before the pandemic.Nearly half of workers surveyed said that their expectation around happiness at work has increased in the last year, and 86% of those surveyed say that how they feel at work impacts how they feel at home.What's more, Glassdoor and Indeed estimate that 90% of people believe that how we feel at work matters, but only 49% of people report their company is measuring happiness and well-being.In this way, 'measuring and understanding employee well-being is becoming vital to attracting and retaining talent.'5. An emphasis on DEI — for someThe final workplace and hiring trend that Glassdoor and Indeed predict is an increased emphasis on diversity, equity and inclusion (DEI). But this enthusiasm is not evenly distributed among workers.While 72% of workers ages 18 to 34 said they would consider turning down a job offer or leaving a company if they did not think that their manager (or potential manager) supported DEI initiatives, that attitude changes with each older age group: Just 63% of those ages 35 to 44, 60% of those ages 45 to 54, 52% of those ages 55 to 64 and 45% of those over the age of 65 said the same.DEI expert Jourdan Saunders says she is not surprised by this generational gap.'Younger age groups are more passionate about DEI initiatives,' says Saunders, founder and CEO of The Resource Key, which focuses on inclusive branding.
'And ultimately, businesses have a responsibility now more than ever to invest in those initiatives.' Updated Dec 29, 2022 With the pace of work speeding up, and demands on workers and companies ever-changing, it's no secret the jobs of the future will be quite different from today's jobs, much less the jobs of the past. Although technology has been a significant factor in changing many workplaces in the United States, the tech industry is slated to grow slower than some other key industries.Stacker compiled a list of 30 jobs expected to grow the most by 2031, using Bureau of Labor Statistics Employment Projections data current as of Sept. 8, 2022.
Jobs are ranked by the percentage difference between actual 2021 employment figures and projected employment figures for 2031. Ties are broken by a field's number of overall projected jobs in 2031.The health care sector is expected to experience a boom in the next decade. In fact, the top three fastest-growing industries—specialty hospitals, home health care services, and health care practitioner offices—all fall under its umbrella.
Other industries that made the top 10 for the next decade include power communication line construction, electronic shopping, and financial investment.It's also worth noting that many of the jobs on this list virtually disappeared during the pandemic—jobs like ushers, lobby attendants, and ticket takers—so their expected growth may be due less to new opportunities by 2031 than the fact that there were so few of those jobs in 2021.By 2030, experts also predict job seekers will need a whole new host of skills to impress their potential employers. Future skills include digital literacy, emotional and social intelligence, computational thinking, and cognitive flexibility. Taken together, these traits could signal both that top job applicants must be willing to adapt to a rapidly changing environment and that human value—like a warm bedside manner—can't simply be replaced by automation.You may also like: States with the most farmland Rawpixel.com // Shutterstock Updated Dec 29, 2022 - 2021-2031 projected employment change: +8,600 (23.0% change)- 2021 employment: 37,300- Projected 2031 employment: 45,900- Projected annual job openings: 5,600While the barrier to entry is very low, being a roustabout—a laborer without specific technical skills—requires a good deal of physical stamina.
However, suppose you can withstand the physicality and long hours. In that case, you can have an exciting career dismantling machinery and doing other physical work on oil and gas drilling, refining, and distribution sites. Said M // Shutterstock Updated Dec 29, 2022 - 2021-2031 projected employment change: +1,100 (23.2% change)- 2021 employment: 4,700- Projected 2031 employment: 5,800- Projected annual job openings: 1,500Whether working with crowds at amusement parks or maintaining a bowling alley, entertainment attendants can enter the industry with no advanced degree and minimal experience.
If you are a friendly person with the ability to handle large groups of people, you can enter this industry easily. Senior Airman Greg Nash // U.S. Air Force Updated Dec 29, 2022 - 2021-2031 projected employment change: +24,200 (23.2% change)- 2021 employment: 104,200- Projected 2031 employment: 128,300- Projected annual job openings: 10,300Operations research analysts work with mathematical models and complex analytic methods to help companies produce top-notch solutions and solve problems.
The demand for operations research analysts is already high in the biotech industry and is expected to increase: The job represents one of the six most in-demand biopharmaceutical careers. The median annual salary for an operations research analyst in the biopharma industry is $83,890. Semiglass // Shutterstock Updated Dec 29, 2022 - 2021-2031 projected employment change: +59,400 (24.1% change)- 2021 employment: 246,700- Projected 2031 employment: 306,100- Projected annual job openings: 28,900Postsecondary health specialties teachers instruct college-level courses on topics like dentistry, medicine, pharmacy, public health, and veterinary medicine.
Employment of postsecondary teachers will rise as enrollment at postsecondary schools is projected to increase, though some postsecondary instructors are expected to be employed only part-time. The average annual salary for a postsecondary health specialty teacher is $122,320. Ness Kerton/AusAID // Flickr Updated Dec 29, 2022 - 2021-2031 projected employment change: +1,500 (24.5% change)- 2021 employment: 6,200- Projected 2031 employment: 7,700- Projected annual job openings: 1,300When the COVID-19 pandemic began, many dancers had to look for creative ways to make money.
For some, a change meant switching to administrative or consultation roles, while others were able to enjoy a less formal way of dance. Due to the proliferation of recording performances on video during the pandemic, the industry continues to grow an expected 27% from 2021 to 2031. Artur Didyk // Shutterstock Updated Dec 29, 2022 - 2021-2031 projected employment change: +26,000 (24.9% change)- 2021 employment: 104,400- Projected 2031 employment: 130,400- Projected annual job openings: 22,600The personal care industry is thriving now that the public is allowed back in salons and spas without restrictions.
During the early days of the pandemic, salons saw an increase in sales after exploring technologies to book in-home visits and schedule storefront appointments. As a result of new service options and reviving demand, the personal care industry is slated to grow 14% between 2021 and 2031. Canva Updated Dec 29, 2022 - 2021-2031 projected employment change: +11,000 (25.4% change)- 2021 employment: 43,400- Projected 2031 employment: 54,500- Projected annual job openings: 8,700The job outlook for occupational therapy assistants is very positive, and occupational therapy assistant jobs are expected to grow steadily for the foreseeable future.
Those considering a career in occupational therapy can expect to work with people of all ages and have tremendous career flexibility, with opportunities to work with children, people with disabilities, students, or people with behavioral issues. Canva Updated Dec 29, 2022 - 2021-2031 projected employment change: +924,000 (25.4% change)- 2021 employment: 3,636,900- Projected 2031 employment: 4,560,900- Projected annual job openings: 711,700There is a significant shortage of home health care workers because of the pandemic. But the industry requires minimal on-the-job training, so it's an excellent opportunity for anyone looking to change their career.
ALPA PROD // Shutterstock Updated Dec 29, 2022 - 2021-2031 projected employment change: +2,200 (25.8% change)- 2021 employment: 8,600- Projected 2031 employment: 10,900- Projected annual job openings: 800Epidemiologists are important workers during a pandemic because they study and determine the causes of a disease's spread. Through online tech platforms, including websites where preliminary research can be quickly publicized, scientists can now communicate faster and share results across time zones. Canva Updated Dec 29, 2022 - 2021-2031 projected employment change: +370,600 (26.0% change)- 2021 employment: 1,425,900- Projected 2031 employment: 1,796,500- Projected annual job openings: 143,400The pandemic increased software jobs and accessibility for those who want to learn how to program.
This means there is a lot of job security in this field. Furthermore, with the increase in cyberattacks, software developers are in higher demand than ever to create security software. Canva Updated Dec 29, 2022 - 2021-2031 projected employment change: +25,600 (26.5% change)- 2021 employment: 96,500- Projected 2031 employment: 122,100- Projected annual job openings: 17,900Physical therapist assistants are expected to be in higher demand as the U.S.
population ages, requiring more services. Different from a physical therapist aide, a physical therapist assistant can provide physical therapy under the supervision of a licensed physical therapist and often participates in administrative activities like billing or risk management. Usually, a physical therapist uses an assistant to help implement treatment by working side-by-side with the patient.
Free stajler // Wikimedia Commons Updated Dec 29, 2022 - 2021-2031 projected employment change: +14,300 (27.1% change)- 2021 employment: 52,900- Projected 2031 employment: 67,200- Projected annual job openings: 10,600Support service animals help many people—even college students adjusting to campus life—but require a qualified animal trainer. With the proper training, service animals can help address Americans' mental health needs. Trainers don't need advanced degrees and can learn on the job or apprentice with an expert.
PeopleImages.com - Yuri A // Shutterstock Updated Dec 29, 2022 - 2021-2031 projected employment change: +4,600 (27.2% change)- 2021 employment: 17,100- Projected 2031 employment: 21,700- Projected annual job openings: 2,500Solar photovoltaic installers assemble, install, and repair solar panel systems, which convert sunlight to electricity. As solar panels become increasingly popular around the country, installers are expected to be in high demand. The average solar photovoltaic installer earns an annual salary of about $39,240 annually.
anatoliy_gleb // Shutterstock Updated Dec 29, 2022 - 2021-2031 projected employment change: +38,400 (27.6% change)- 2021 employment: 139,100- Projected 2031 employment: 177,500- Projected annual job openings: 12,700Like other jobs in the health care sector, physician assistants will be increasingly needed as the U.S. population grows older and needs more medical attention. Unlike a medical assistant, a physician assistant can examine patients, offer a diagnosis, administer vaccinations, provide follow-up counseling, and prescribe medications.
In some areas with a shortage of doctors, physician assistants can even serve as leading primary care providers. Steve Pivnick // U.S. Air Force Updated Dec 29, 2022 - 2021-2031 projected employment change: +54,100 (27.7% change)- 2021 employment: 195,000- Projected 2031 employment: 249,100- Projected annual job openings: 24,800The recent supply chain issues made it clear that more companies need help from logisticians.
Understanding the life cycle of a product—from acquisition to distribution—helps an organization manage its supply chain. Monthir