career management final exam 2023 complete- Len
garrison
new employment reality
estimated 7.1 million unfilled jobs
what is the key driver to unfilled jobs?
skills mismatch
unemployment rate
unemployed * / civilian workforce
participation rate
civilian workforce * / civilian population
labor market trends
1. globalization
2. changing demographics
3. technology - where, how and when works get done, eliminating low skilled work,
increasing complexity
4. new employment contract - replace promise of employment with promise of
employability
creative destruction
eliminating old industries and creating new ones
technology increases...
-need for employees to be computer literate
-need for speed and efficiencies
-complexity of work
-virtual work opportunities (telecommuting, videoconferencing, email)
global trends and realities
-centers for economic activity are shifting globally & regionally
-expanding and changing consumer landscape
-the battlefield for talent is shifting
-role and behavior of big business under sharp scrutiny
-growing demand for natural resources
-emerging new global industry structures
Internet Users Distribution in the World
-Asia (50.7)
-Europe (16.0)
-Africa
-Latin America
-North America
-Middle East
-Australia
global trends
china, india, US, Indonesia, Brazil ....
types of jobs being offshored
Call-center/Customer service
Software development, maintenance, testing
, Back-office accounting
Mortgage Processing
Tax form preparation
research and development
financial analysis and research
R&D
Financial analysis and research
labor force trends
-workforce participation rates
-population trends
-immigration trends
(WPI)
population trends
-millennials become the largest generation in the labor force of 2016
-generation Z is the biggest population distribution in 2018
Labor force trends- diversity
white non Hispanics
2000 - 73%
2050 - 53%
Hispanics (double in size)
2000 - 11%
2050 - 24%
blacks
2000 - 12%
2050 - 14%
asians (fastest growing group)
2000 - 5%
2050 - 11%
Labor force - education
only 30.9% of the US labor force has a BA or higher degree
some college - 29.1%
HS diploma - 27.3%
percentage of labor force in unions
10.5% of wage and salary workers who were part of unions, down 2% from 2017
occupational / employment trends
GDP was 3.4% for the 3rd quarter of 2018
expected to stop to 1.82 by 2020 and 1.48 by 2022
strongest growth of jobs
-information
-computer
-health services
-professional and business services
fastest growth jobs
garrison
new employment reality
estimated 7.1 million unfilled jobs
what is the key driver to unfilled jobs?
skills mismatch
unemployment rate
unemployed * / civilian workforce
participation rate
civilian workforce * / civilian population
labor market trends
1. globalization
2. changing demographics
3. technology - where, how and when works get done, eliminating low skilled work,
increasing complexity
4. new employment contract - replace promise of employment with promise of
employability
creative destruction
eliminating old industries and creating new ones
technology increases...
-need for employees to be computer literate
-need for speed and efficiencies
-complexity of work
-virtual work opportunities (telecommuting, videoconferencing, email)
global trends and realities
-centers for economic activity are shifting globally & regionally
-expanding and changing consumer landscape
-the battlefield for talent is shifting
-role and behavior of big business under sharp scrutiny
-growing demand for natural resources
-emerging new global industry structures
Internet Users Distribution in the World
-Asia (50.7)
-Europe (16.0)
-Africa
-Latin America
-North America
-Middle East
-Australia
global trends
china, india, US, Indonesia, Brazil ....
types of jobs being offshored
Call-center/Customer service
Software development, maintenance, testing
, Back-office accounting
Mortgage Processing
Tax form preparation
research and development
financial analysis and research
R&D
Financial analysis and research
labor force trends
-workforce participation rates
-population trends
-immigration trends
(WPI)
population trends
-millennials become the largest generation in the labor force of 2016
-generation Z is the biggest population distribution in 2018
Labor force trends- diversity
white non Hispanics
2000 - 73%
2050 - 53%
Hispanics (double in size)
2000 - 11%
2050 - 24%
blacks
2000 - 12%
2050 - 14%
asians (fastest growing group)
2000 - 5%
2050 - 11%
Labor force - education
only 30.9% of the US labor force has a BA or higher degree
some college - 29.1%
HS diploma - 27.3%
percentage of labor force in unions
10.5% of wage and salary workers who were part of unions, down 2% from 2017
occupational / employment trends
GDP was 3.4% for the 3rd quarter of 2018
expected to stop to 1.82 by 2020 and 1.48 by 2022
strongest growth of jobs
-information
-computer
-health services
-professional and business services
fastest growth jobs
