Most experts believe the economy is showing signs of recovery. Officially, the Great Recession ended in June 2009. But if you were one of the 8 million people who lost their jobs or if you’re a recent college grad, the picture doesn’t look that bright, does it.
It’s not only that companies are hiring at a slower speed but also that whole industry sectors have been destroyed and certain jobs just won’t come back. In the global economy some manufacturing jobs, for example, have been lost to other markets with cheaper labor. So have jobs for people with less than a high school diploma or even for high school graduates without any college.
According to a Moody’s Analytics for TIME magazine, in the next couple of years, 37.6% of jobs will require a Bachelor’s degree or higher; 10.2% will require an Associate’s degree and another 17.5% will require some college. How are you positioned to get or keep your job?
One of the greatest problems we are facing as a nation is the mismatch of labor needs and workers’ skills. Even during the worst of the recession there were companies that couldn’t fulfill their open positions because there were few candidates with the right skill-set. People who work with technology: engineers of all kinds, artists, designers, programmers are at the top of the list for companies across the globe.
Opportunities in the professional services are also growing because as large companies have downsized they are now looking to outsource the capabilities that they don’t longer have in house. So, you may need to consider setting up your own consulting firm to serve several clients rather than seeking a full time job.
And looking beyond your own city and state may be more of a necessity than a choice as well. When you think that North Dakota has the nation’s lowest unemployment rate (a mere 3.8%) you realize that you may want to move from Detroit were the unemployment rate is anywhere between 30-50% depending on who you believe.
It’s a great time to leverage your Latino nimbleness: To become independent if you were used to full time employment, to get extra certifications and higher degrees if you notice that the available jobs require them, and to move wherever the jobs are. Keep in mind that you were raised with the ability to adjust to change, to try new roles, and to think out of the box. This is the time to make those traits work for you!