2010 Job Market Treands And Predictions

Jonathan Taylor on Jan 27th 2010

From a hiring and career perspective it’s even hard to imagine that 2010 could be worse than 2009? If we compare it with the last year of disaster that we’re leaving behind, unemployment grew from 7.2 percent in January 2009 to a high of 10.2 percent announced at the beginning of November. There are now 15.7 million unemployed people in the US according to the report of BLS- a figure that has risen by 8.2 million since the recession began in December 2007. For those in the job market it is likely to be better year in 2010. Here at JobConcierge, we’ve put our heads together and come up with some job market predictions for three key groups over the first year of the new decade: Job seekers, managers, and recent graduates.

Job Seekers

The good news for those who are searching jobs right now is that 2010 will likely to bring slight decrease in the unemployment rate – a fact that companies will be hiring throughout the year. But there is bad news also that the competition for those positions which you want to apply becomes more hotter than ever before, and for this candidate has to perform brilliantly and are likely to accept more modest compensation packages – to land a job. And by doing this we are not going to see the unemployment rate as same as it was before: anything near the 9 percent by the end of 2010 will be a greater achievement.

Focusing on a job search on growing fields will be more likely important than ever, and for those who are looking for work would do well to seek out opportunities in field related to energy, environmental issues, health care and government. Those who are expertise in their area may also want to consider finding similar roles in adjacent sectors, or acquiring extra skills to make themselves more marketable in other areas.

Managers

It is said by an economic expert recently on the spike in productivity we’ve noticed from those who still have jobs that at a certain point people will start to collapse at work. As it is exactly clear from the quote that there comes a time when existing employees can’t do anything to carry forward the business, and then this thing will create both problem and opportunities over the coming years for managers.

From now onwards the toughest decision should hopefully be with leaders: if leaders haven’t finished cutting the fat from their organization at this point of time then chances are its too late.

As the economy starts gain ground once again the uptick in work will naturally require leaders to go out and find some assistance. Savvy execs, then, should be leveraging every contact they have to find the best candidates out there-and they are out there, in unprecedented numbers. After two empty years when no one was hiring, now there is talent pool that is simply overflowing with candidates, from which many of them are now available for certain positions they’d never have considered in better times. Now retention will likely become an issue down the line because some firms can pull in stronger talent than they might ordinarily be able to. That’s unlikely to be the case in 2010, however, so just enjoy the fun of hiring in an employer’s market while it lasts.

Recent graduates

The class of 2010 students has a long road ahead of them. Because fewer employers are now start coming to the campuses to recruit soon to be graduates-at law schools, for example, the numbers of recruiters dropped significantly for 2009-2010 (as much as 50 percent at some schools in the T14)- so that students will have to work extra hard to find a job after graduation.

Graduate students have the full force of their school behind them unlike the mid career job seeker. In the past year career services across the country have reached out to new employers to find open positions, created new training program for students to learn about alternative careers and offered some fellowships to those who conduct research, pursue volunteer work and have to accept those unpaid or low paid positions. Career in the sector like nonprofit, technology and government sectors are the most popular across the country. Online application for the federal clerkship increased by 66% among future lawyers. However there are jobs available in this sector, employers may not be equipped to handle the surge the application. This means the class of 2010 employment numbers is likely to be only slightly higher than the class of 2009’s, if they change at all.

The best bet for the class of 2010 may be to get the heck out of Dodge. Those students who want to work abroad they have a better chance of getting a job instead of those who limit their job search to their Home town only. Various MBA colleges have merged their program with Europe and Asia which would definitely help students to compete in an international market. That said that with those international students staying abroad, it’s likely that these jobs will get more competitive in 2010. So students those who exploring this option should start working in their resume earlier.

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