Where The Jobs Ain’tExpert Reviews Five Industries Where the Jobs Aren't Coming Back, and One That's Growing
This recession isn't like the last few we've had. This time, there are millions of jobs that are going away, and they're not coming back.
That's what Yusuf Wilson, job coach and author of Time To Get Hired! (www.yusufwilson.com), believes, but he also knows one job sector that is growing and will continue to grow for at least the next decade.
"We're not buying new homes, new cars and durable goods the way we used to, and we're not reading newspapers in the age of the Internet," Wilson said. "Those are four job sectors affected right there, between construction workers, auto workers, realtors and newspaper employees. Because of the labor conditions and other market pressures that have changed for good, the numbers of jobs in those fields will never return to their former levels. As a result, people need to think about re-educating themselves and preparing for jobs that will be around for a while."
Wilson identified five job sectors that are drying up, with one category that will continue to grow: green jobs.
Construction -- Unemployment in the construction area was up to 17 percent this past August, up from 16.5 percent a year ago. The housing market is still floundering, and inventories are still vast because of the millions of foreclosures.
Realtors -- Since 2006, the realty sector has lost 200,000 jobs, because houses aren't selling the way they used to. Most realtors don't work on a salary, but rather, on a commission. So, if they don't sell, they don't eat. Many have already pulled up their shingles and begun seeking work elsewhere. If the housing market doesn't recover, neither will the realty sector.
Automobile industry -- So far, Detroit has lost close to 300,000 jobs, and for every car company worker laid off, three more are laid off in related industries, such as car dealerships. The domino effect isn't going away, as many consumers shift to buying used cars to save money.
Pharmaceuticals -- The drug business has a different push and pull -- patents. Many of the big drug companies' patents are going to expire, meaning generic companies will be able to sell popular prescriptions for lower prices soon. Look for jobs in that sector to dry up until the next Viagra or Claritin comes along.
Banks -- Two pressures are driving away bank jobs. Thousands of banks closed during the recession at the same time automated banking and Internet banking have become popular with consumers. That means fewer banks, and fewer need for bank tellers. The Internet isn't going away, so those jobs won't be coming back.
The Green Industry -- On the plus side, Wilson said the Green industry would continue to grow.
"From 1997 to 2008, green jobs grew by a factor of 67 percent, and with the Obama Administration promising to create as many as 5 million jobs over the next decade, it's time for job hunters to match their education to the job trend that is tracking upward," he added. "If you want to ensure that you'll have a career that is practically economy-proof, go green. Green construction, consulting and administration are all job sectors that are becoming stronger, even with low consumer confidence and high unemployment."
About Yusuf Wilson
Yusuf Wilson is President and Senior Consultant of Wilson Training and Consulting Systems, LLC. Yusuf has over 20 years of executive leadership and training experience. He holds degrees in Management and Marketing, and a Master's degree in Human Resource Management. He has training certifications in Consultative Selling, Consultative Coaching and Zenger Miller training programs. In addition, he's a member of the Sustainable Business Network and Society of Human Resources Managers (SHRM), both chapters located in Philadelphia.
Posted: December 9, 2010
More Latest News »