In a double-minded job market, knowing where to turn when looking for a job can be challenging, but these industries are looking for workers.
Key Details
- Layoffs continue in the tech industry and may bleed over into other sectors. Meanwhile, the number of job openings decreased to 9.9 million in February, according to the Bureau of Labor Statistics.
- However, despite the cooling labor market, some industries are still looking for top talent.
- Job seekers looking to set themselves apart should focus on building skills as more businesses focus on skills-based hiring.
- Workers will likely find greater success if they focus their efforts on the industries that have the greatest needs for workers, such as food service, hospitality, and manufacturing.
Why it’s news
Understanding the industries where workers are needed can help job seekers make informed decisions about potential career changes and further education. More U.S. workers follow non-linear career paths, which can take them through multiple industries as they find jobs that better fit their desires.
While industries like food service and hospitality have always had high turnover rates, the pandemic shifted worker priorities when choosing an occupation. In what has been termed The Great Resignation, around 50 million workers quit their jobs in 2022, looking for better opportunities. However, a closer look at the data reveals that this phenomenon may be better described as “The Great Reshuffle,” according to U.S. Chamber of Commerce Director of Global Policy & Special Initiatives Stephanie Ferguson.
While many employees may have quit their jobs, these workers are staying in the workforce—they have just relocated.
Many sectors now struggling to hire were ones that mostly or entirely shut down during the pandemic. The quit rate for the Accommodation and Food Services industry has remained above 5%, and retail sectors have followed closely behind with a 4% quit rate, according to the U.S. Chamber of Commerce.
While many of these employees have quit in the last month, the industry has continued to hire just as quickly. In January 2023, leisure and hospitality lost 1 million workers but hired 1.1 million new employees.
While service and food industries continue hiring, transportation, healthcare, and social assistance struggle to overcome a labor shortage. Healthcare labor shortages were a problem before the pandemic, however, the added stress on the industry worsened the problem. Now, some areas are asking doctors to come out of retirement to alleviate the workload on current physicians.
Some industries are expected to grow in the coming years due to new technology and further development in the sector. For example, the artificial intelligence (AI) industry is just beginning to grow, resulting in companies hiring recent or not-yet-graduated college students.
Recent incentives like the Chips & Science Act have encouraged more chip manufacturing in the U.S. As companies build new manufacturing facilities, they will require more skilled workers to produce their products.
While layoffs and job openings have shifted in various industries over the past few years, some sectors still hire rapidly. Workers who focus on building skills and look to industries like food service, hospitality, and manufacturing will likely find the greatest success. By focusing on building their skills and seeking out industries with the greatest needs, job seekers can position themselves for success in an ever-changing job market.
