For job-seeking professionals with over five years of experience, there’s cause for optimism this year: hiring is up across a number of large industries.
Hiring in the tech industry is expected to remain robust in 2024, with the second half of the year potentially seeing recruitment increases at traditional IT firms and a surge in start-ups. With digitalization continuing across all sectors, skilled professionals in AI/ML, cloud security, and sustainability should find a welcoming marketplace. Meta and Salesforce have already promised as much.
Construction job openings in November 2023 rose to their highest levels in a year, and in December 2023, the industry added 17,000 jobs. Against a national 3.7% unemployment rate, construction unemployment fell to 4.4% that month. Additionally, while construction spending surges, it’s been reported that major projects have been paused due to a lack of skilled workers.
According to the U.S. Bureau of Labor Statistics, 2024 represents the start of a period of significant demand in a number of healthcare professions. A 45% surge in nurse practitioner jobs is expected, and home health aides should experience a 33% increase, reflecting the growing preference for in-home care. Management roles like medical and health service managers are also projected to expand by 28%.
For the good news in this industry, look to the latter part of the year, when some experts believe there’ll be an increased focus on attracting and retaining skilled workers due to ongoing labor shortages. At the same time, the rise of automation, AI, and robotics will create demand for skilled workers. And sustainability initiatives will drive demand for professionals with expertise in areas like green materials, renewable energy, and circular economy practices.
Again, we may need to wait a few months, but 2024 looks promising for biotech hiring, as research, development, and production talent will be called upon to support breakthroughs like gene editing, personalized medicine, and biopharmaceuticals. Many trend watchers are also projecting merger and acquisition activity to result in hiring expansions, with wider acceptance of remote work boosting geographical diversity.
Although things are a little dicier for pharma this year because of economic uncertainty, supply chain disruptions, and the looming expiration of patents on blockbuster drugs, there are bright spots for those with specific expertise. Data scientists and AI/ML engineers, along with specialists in digital marketing and regulatory affairs, should find some fertile ground in pharma for 2024.
Tempered by potential market volatility and the loss of retail banking jobs to digitalization, finance should still see sustained growth in 2024. Tech-driven finance fields like fintech, data analytics, and cybersecurity should ride a wave of job creation, “sustainable finance” will fuel demand for specialists in sustainable investing, green finance, and impact investing, and the wealth management market is expected to grow steadily this year due to an aging population with increasing wealth.
As it is in many other industries, automation is both a curse and a blessing for accounting. Traditional bookkeeping and tax preparation roles are going away, but individuals who are proficient in technologies like AI, cloud computing, and data visualization can thrive. Predictably, cybersecurity and sustainability (sound familiar?) will also dominate 2024 hiring in this industry.
So how can you take advantage of all these opportunities? By upskilling and reskilling yourself for the growing demands in your industry; building your network by attending tech conferences, workshops, and meetups; and staying informed and proactive by researching specific employers and the skills they’re seeking.
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