Category: Labor Force

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Job Market Job Seekers Labor Force Talent Management Talent Mobility

Baby Boomers Increasing in the United States Job Market

Baby Boomers are increasing in the United States job market. This generation’s employment gain in 2018 is unmistakable. Baby Boomers are increasing both in total number of employees and as a percentage of new hires. What is driving this phenomenon?

December 2018 Job Growth by Sector

A look at job gains in December 2018 may provide a few clues to the growth of Baby Boomers in the job market. The job gains are noteworthy for how widespread they are across sectors of the economy. Sectors by order of job gains:

  • Private Education and Health Services: Up 82,000
  • Leisure and Hospitality: Up 55,000
  • Professional and Business Services: Up 43,000
  • Construction: Up 38,000
  • Manufacturing: Up 32,000
  • Retail Trade: Up 24,000
  • Government: Up 11,000
  • Wholesale Trade: Up 8,000
  • Other Services: Up 8,000
  • Financial Activities: Up 6,000
  • Mining and Logging: Up 4,000
  • Transportation and Warehousing: Up 2,000
  • Utilities: Unchanged
  • Information: Down 1,000

Interestingly, some sectors showing job gains represent types of jobs that require higher education, experience, and skill levels than some other sectors. However, sectors such as Information that had driven significant job growth in the past may be undergoing structural changes or be further impacted by government restrictions related to immigration and visa status.  The US Bureau of Labor Statistics Current Employment Statistics Highlights December 2018 Report includes a special note regarding Information jobs: “Within the sector, telecommunications lost 26,000 jobs in 2018, while other information services added 17,000.” Monthly job data tends to be volatile in nature. As a result, trends are difficult to discern when looking only at monthly data.

2018 Job Growth by Age Distribution

A look at job gains throughout the entire year of 2018 might provide more helpful information to understand why baby boomers are increasing in the job market. Over 2.9 million new jobs were created in 2018. Select age distribution across all of the 2018 new jobs shows a disparity in hiring patterns.

Age Distribution of Workers in New 2018 Jobs

  • 55 and over: Represent less than 24% of the workforce, but took 49% of new jobs

(Workers age 25-54 represent 64% of the workforce, but took only 45% of new jobs)

  • 45-54: Decreased overall
  • 35-44: Gained but smaller than their share of workforce
  • 25-34: Gained strongly
  • 18-19: Represent 2% of the workforce, but took 11% of new jobs

Why are Baby Boomers Taking New Jobs?

The growth of Baby Boomers in the job market is due to a number of factors. Baby boomers as a whole tend to be more health conscious than their parents and grandparents. As a result, they have a longer life expectancy than previous generations. This generation is unique in its pursuit to create a new way of health living. As a result, their desire to live well includes better nutrition, healthy activities, and the pursuit of social activities including employment that lets them engage with similar populations.

Also, Baby Boomers in the workforce tend to be better educated. This in turn increases their likelihood of remaining in the labor force for a longer period, as more job opportunities are open to them. Some job seekers may benefit from career services that offer powerful tools to help them find jobs that can use their experience.

Changes to social safety net programs such as Social Security benefits and employee retirement plans also play a factor in Baby Boomers choosing to work longer. Greater life expectancies mean Baby Boomers need more savings and reserves for their retirement years. This is especially true as government programs continue increasing minimum retirement ages for full benefit eligibility.

Jobs for Baby Boomers

The US Bureau of Labor Statistics notes that employment of workers age 55 and over is greatest in the following job types:

  • Management, Professional, and Related Positions
  • Sales and Office
  • Service
  • Production, Transportation, and Material Moving
  • Natural Resources, Construction, and Maintenance

Within these job types, specific occupations have a greater concentration of Baby Boomers. Many of these occupations require significant experience and skills that add to the job holder’s credibility. Other occupations require an affable personality and openness to working with the public. Finally, several of these occupations require unique and significant leadership skills.

Occupations Requiring Artistic and Creative Skills

  • Furniture Finishers, Cabinet Makers
  • Jewelers, Gem Finishers, Metal Workers

Occupations Requiring Great Care and Attention to Detail

  • Archivists, Curators, Museum Technicians
  • Medical Transcriptionists, Medical Coders
  • Proofreaders, Editors, Reviewers, Copy Readers
  • Tax Preparation Professionals

Occupations Requiring Openness to Working with the Public

  • Bus Drivers, Taxi Drivers, Uber/Lyft Drivers
  • Property Managers, Real Estate Managers, Community Association Managers
  • Real Estate Brokers, Real Estate Sales Agents
  • Travel Agents, Tour Guides

Occupations Requiring Unique and Significant Leadership Skills

  • Clergy, Priests, Religious Leaders
  • Legislators, Government Representatives, Elected Officials

Other Factors Driving Baby Boomers to Remain in the Job Market

Flexibility in the job market provides greater opportunities for Baby Boomers to consider employment. Part-time positions often allow employees to work alternate schedules that fit their lifestyles. Also, another option Baby Boomers often choose is self-employment, opening their own businesses around special interests or services. Many freelancers over the age of 55 use supplemental gig work to fund their future retirement plans. Freelance work appeals to Baby Boomers because it lets them prioritize what is most important to them.

What Should Employers do to Attract Baby Boomers?

Employers should be aware of the growing number of Baby Boomers in the workforce. They should consider structuring positions to accommodate workers with higher education levels. Employers should also consider examining their employment requirements with respect to full-time, part-time, and gig work schedules. This will help employers appeal to the greatest number of job seekers.

Additionally, employers should examine their relocation program’s benefits. Relocation programs should be designed to provide companies and their employees the resources and they need to ensure a smooth and successful relocation process. A robust program should account for ongoing employee support services, supplier management, candidate selection, relocation benefits, and expense management.

Conclusion

GMS’ team of global relocation experts has helped thousands of our clients develop hiring and recruiting programs to attract highly skilled job seekers. Our team can also help your company by using industry best practices to design your relocation program. This will increase your company’s ability to attract and retain new employees across all age groups, including Baby Boomers.

GMS was the first relocation company to register as a .com. The company also created the first online interactive tools and calculators, and revolutionized the entire relocation industry. GMS continues to set the industry pace as the pioneer in innovation and technology solutions with its proprietary MyRelocation® technology platform.

Global Mobility Solutions is proud to be named and ranked #1 Overall, and #1 in Quality of Service by HRO Today’s 2019 Baker’s Dozen Customer Satisfaction Survey.

Contact our experts online to discuss your company’s recruiting, hiring, and relocation program needs, or give us a call at 800.617.1904 or 480.922.0700 today.

Request your complimentary relocation policy review

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Domestic Relocation Domestic Relocation Tips Job Seekers Labor Force Talent Management Talent Mobility

What are the Fastest Growing Jobs in North Carolina?

What are the fastest growing jobs in North Carolina? Many job seekers look to find opportunities in regions that experience positive economic growth. North Carolina has the 15th highest percentage change in Gross Domestic Product in the nation through mid-2018. The Southeast region as a whole continues to experience high economic growth, including North Carolina. North Carolina’s two largest metropolitan areas, Raleigh and Charlotte, are among the fastest-growing cities in the nation.

Fastest Growing Jobs in North Carolina

Any list of the fastest growing jobs is subject to change, depending on economic factors including industrial production, global trade, and even weather patterns. However, recent studies show the fastest growth in these jobs:

Mathematics and Finance Jobs

  • Statisticians
  • Credit Counselors

Information Technology Jobs

  • Operations Analysts

Healthcare and Medical Jobs

  • Nurses
  • Occupational Therapists
  • Physical Therapists
  • Physician Assistants
  • Home Health Aides
  • Diagnostic Medical Sonographers
  • Physical Therapy Aides

Highlight on the Fastest Growing Jobs in Charlotte

Charlotte is the largest city in North Carolina. As a result, it offers the most opportunities for job seekers seeking the fastest growing jobs. Charlotte has a diverse industrial base and is the county seat of Mecklenburg County.

A few of the largest Industries in Charlotte include:

  • Manufacturing
  • Retail Trade
  • Hotels
  • Finance
  • Restaurants
  • Healthcare
  • Social Services

Recently, Charlotte has become the second largest financial center in the nation, following New York City. However, the title for second and third largest financial center changes frequently between Charlotte and its close rival San Francisco. Much of this growth is due to Bank of America, the nation’s second largest bank by assets. Bank of America has been increasing its assets and maintains its headquarters in Charlotte. The Charlotte Chamber of Commerce President Bob Morgan notes that the number of banking and finance jobs in the metropolitan region rose 16.2 percent over a ten year period. These are a few of the fastest growing jobs in Charlotte.

What Should Job Seekers do to Find the Fastest Growing Jobs?

Job seekers should investigate the fastest growing jobs in North Carolina for opportunities. A number of resources are available to learn about jobs and careers in North Carolina. Professional networks such as Linkedin provide information on companies and contacts. Job seekers may want to focus on a specific location such as Charlotte, and then narrow down their search by industry to job type. Job seekers should utilize professional career services to enhance their job search and achieve success in their career objectives.

What Should Employers do?

Employers should examine their employment needs as economic growth fosters competition for job seekers with requisite skills and training. They should review their relocation program to determine if it benefits their talent acquisition goals and corporate objectives. Employers should work with a Relocation Management Company that has the knowledge and expertise to help them design a relocation program that promotes global talent acquisition.

Conclusion

GMS’ team of global relocation experts has helped thousands of our clients develop hiring and recruiting programs to attract highly skilled job seekers. Our team can help your company determine how to attract job seekers looking for the fastest growing jobs in North Carolina, or any other location around the world.

GMS was the first relocation company to register as a .com. The company also created the first online interactive tools and calculators, and revolutionized the entire relocation industry. GMS continues to set the industry pace as the pioneer in innovation and technology solutions with its proprietary MyRelocation™ technology platform.

Global Mobility Solutions is proud to be named and ranked #1 Overall, and #1 in Quality of Service by HRO Today’s 2019 Baker’s Dozen Customer Satisfaction Survey.

Contact our experts online to discuss your company’s recruiting, hiring, and relocation program needs, or give us a call at 800.617.1904 or 480.922.0700 today.

Request your complimentary relocation policy review

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Career Services Employee Development Job Seekers Labor Force Talent Management

How Job Seekers Can Accelerate Their Search With GMS Global Career Services

Global Mobility Solutions has previously reported on the growing skills gap in the United States that may benefit job seekers. Examining the skills gap provides people looking for jobs with an understanding of where they might focus their efforts for best results. There are several factors influencing this expanding skills gap, including:

As a result, job seekers have a wide range of opportunities to explore to find a new position. However, many people do not have a solid plan in place to determine how to approach their search. If a job seeker has the requisite skills for a new position, they should conduct their search efforts using powerful tools.

What Resources are Available to Job Seekers?

GMS Global Career Services merges traditional search strategies with today’s online networking tools. By using new technology to approach their search, job seekers can easily rise to the top of a recruiter’s list of qualified candidates. The coaching GMS provides will help job seekers develop their search strategy. Also, it will help them identify their goals and provide assistance throughout the search process.

GMS Global Career Services

GMS Global Career Services available for job seekers can include a number of helpful resources, depending on needs identified during a Career Services Intake. The Career Services Intake will identify the job seeker’s needs, questions, and goals. As a result, GMS Global Career Services will be able to create a unique plan. This plan will determine the assignment of the most qualified Career Advisor for the client.

There are five main segments of career services that job seekers can utilize:

  1. Quick Start Job Search Preparation
  2. Job Search Assistance
  3. Personal Branding
  4. Partnering Services
  5. Resume Writing Services

Quick Start Job Search Preparation can include a DiSC® Assessment, coaching on job skills and techniques, and creation of marketing tools for the job seeker. Job Search Assistance can provide introductions to contacts for networking, access to online portal for local and searchable information, and additional coaching. Personal Branding can include online profile evaluations, personal blog development, and personal video creation. Partnering Services can include subscriptions and access to job search dashboards and a video library of online courses. Resume Writing Services can include assistance with resumes, cover letters, Linkedin profiles, and personal commercial creation.

What are the Key Benefits for Job Seekers?

To be successful, people looking for jobs need specific plans, cutting-edge technology, and determination. They also need a commitment to execute their personal plan utilizing the latest job search tools. GMS Global Career Services brings all of this together. As a result, clients receive a custom package specifically designed to help them reach their goals.

Some global job seekers looking for spousal career support services may not be eligible to work in the United States depending on their visa status. They should develop a plan to maintain their skills. This plan may include certifications, job training requirements, and continuing education in their chosen field. GMS Global Career Services can identify specific actions and helpful resources. As a result, global job seekers will be able to remain competitive in their field upon their return to their home country.

GMS Global Career Services Offers Three Key Benefits for Job Seekers:

  1. Solutions are customized based on each client’s specific needs.
  2. Expert, locally-based Career Advisors deliver in-person support in major markets or remotely.
  3. Advisors have diverse professional backgrounds and qualifications including degrees and work experience in areas where clients are searching for jobs.

GMS Global Career Services show job seekers how they can leverage the internet to develop a strong online presence that supports their personal brand.

What Should Job Seekers do?

Job seekers should consider reviewing the growing skills gap in the United States to determine areas offering potential for their searches. They should also consider utilizing robust career services. These services will also help them leverage online tools to enhance their personal brand and increase their success in the job market.

Conclusion

GMS’ team of global relocation experts has helped thousands of our clients develop hiring and recruiting programs to mitigate the impact of a skills gap. As a result, our team can use GMS Global Career Services to help job seekers find and access these programs in the markets and industries that match their goals.

GMS was the first relocation company to register as a .com. The company also created the first online interactive tools and calculators, and revolutionized the entire relocation industry. GMS continues to set the industry pace as the pioneer in innovation and technology solutions with its proprietary MyRelocation™ technology platform.

Contact our experts online to discuss your job search needs, or give us a call at 800.617.1904 or 480.922.0700 today.

Categories
Domestic Relocation Domestic Relocation Tips Domestic Relocation Trends Employee Development Labor Force

What is Generation Z in the United States Job Market?

What is Generation Z in the United States job market? Generation Z employees are those born between the mid-1990s through the 2010s. This group of employees exhibit different characteristics than other groups such as Baby Boomers and Millennials. Generation Z employees are often highly sought by companies seeking to tap into new markets.

Generation Z Employee Characteristics

Employees from Generation Z are often known for several characteristics that make for valuable workplace contributions. For example, these employees are usually very comfortable and adept with newer technologies and communication platforms. Companies seeking these employees may be looking to capitalize on this group’s experiences and skills in several areas:

  • Mobile Technologies
  • Social Media Platforms
  • Text and Messaging Communications

Generation Z Personal Characteristics

Members of this group have different interests and priorities than previous generations. The United States economic evolution and population changes over the past several decades are key to understanding this group. Their life experiences differ greatly from Millennials, Baby Boomers, and other generations. As such, this group’s characteristics include:

  • Acceptance of Alternative Family Dynamics
  • Alternative Spiritual and Religious Inclinations
  • Conservative Approach to Risk
  • Greater Racial Diversity
  • Innovative and Entrepreneurial
  • Open to Alternative Economic Systems

Occupations That Appeal to Generation Z

Many traditional workplace structures are not conducive to this group of employees. For example, many Generation Z employees expect less formal structures, so hierarchical manager to employee communications may not resonate well.

However, this group is likely to enjoy jobs that allow employees to work with technology. Jobs that provide opportunities to make a significant difference in people’s lives or the environment also are highly desirable. Typical occupations that appeal to Generation Z employees include:

  • Environmental Engineers, Assistants, and Managers
  • Healthcare Workers, Licensed Practical Nurses, and Registered Nurses
  • Human Resource Assistants and Managers
  • Information Technology and Security Analysts, Developers, and Managers
  • Marketing Researchers, Analysts, and Content Managers
  • Mathematicians, Statisticians, and Financial Planners
  • Translators, Interpreters, and Communication Positions

What Should Employers Expect?

Employers should expect that Generation Z employees will have much higher expectations for their jobs than previous generations. This group wants the company’s purpose to align with their own values. They expect greater opportunities for engagement and involvement in company activities and community outreach. These employees want to share their ideas and have freedom to make workplace decisions. Generation Z employees expect full and broad connection with their employer. Continual feedback is critical, and this helps to keep this group feeling connected to the company’s purpose.

What Should Employers do?

Employers should learn what Generation Z employees are looking for in their employment choices. While other generations may appreciate traditional employment models, this group of employees often seek greater flexibility, accountability, engagement, and interaction.

Conclusion

GMS’ team of global relocation experts has helped thousands of our clients develop hiring and recruiting programs to attract highly skilled job seekers across all generations. Our team can help your company by using industry best practices to design your relocation program with a particular focus on Generation Z. This will increase your company’s ability to attract and retain Generation Z employees.

GMS was the first relocation company to register as a .com. The company also created the first online interactive tools and calculators, and revolutionized the entire relocation industry. GMS continues to set the industry pace as the pioneer in innovation and technology solutions with its proprietary MyRelocation™ technology platform.

Contact our experts online to discuss your company’s recruiting, hiring, and relocation program needs, or give us a call at 800.617.1904 or 480.922.0700 today.

Request your complimentary relocation policy review

Categories
Labor Force Talent Management Talent Mobility

China’s Labor Force Declines While Economy Transforms

Portrait of happy engineer. East Asian ; Japanese, Chinese, Korean engineer looking at camera, smile. Engineering people concept.

China’s labor force is in decline. After fifty years of continued expansion, the labor force in China declined last year. Although China still has over 20% of the world’s labor, the decline is indicative of how China’s economy is transforming.

Several other countries with major economies have declining labor forces similar to China’s labor force decline. Countries with declining labor forces include:

  • Italy
  • Japan
  • Russia
  • Spain

Since 2013, many other countries and regions with major economies, as well as several developing countries, have seen their labor forces expand. Countries and regions with expanding labor forces include:

  • European Union
  • India
  • Mexico
  • Turkey
  • United States

Additionally, China is increasingly expanding its level of capital stock. Whereas in 2000 the U.S. capital stock per person was 12 times the level in China, by 2014 the ratio had fallen to 3 times. Recent investment by China has probably pushed the ratio even lower. China is quickly moving on par with the U.S. level of stock per person, even as China’s labor force declines.

What does this mean?

The government in China continues to promote the nation as one that mainly exports lower-value consumer goods and finished products. However, this does not reflect the reality of China’s investment in capital stock. The decline in China’s labor force will further erode the country’s ability to use labor to support its growth as a trading partner of lower-value consumer goods and finished products. The U.S. is currently a trading partner that exports higher-value capital goods and intermediary goods to China. The future for China’s economy will be in this same higher-value market of goods.

What should employers expect?

Employers in China should expect to find it increasingly difficult to recruit and hire as China’s labor force continues to decline. Those with plans to expand into new markets should take this into account as they develop their hiring plans and corporate objectives. Employers should also expect the economy in China to increasingly expand into higher-value capital goods and intermediary goods. There may be significant opportunity in China for companies looking to expand in this market of goods.

What should employers do?

Employers finding difficulties in hiring and recruiting for positions in China should consider highlighting their relocation program’s benefits in their recruiting materials to counteract the effect of China’s labor force decline. The healthcare industry has been facing critical talent shortages for several years. Healthcare employers have responded in several ways, including:

  1. Providing Exceptional Candidate Experiences
  2. Using Data to Enhance Recruiting
  3. Recruiting for Cultural Fit
  4. Creating a Superior Employer Brand
  5. Speeding the Process to Keep Candidates Engaged

Relocation Management Companies (RMCs) are ideal sources for information on global candidate recruitment and relocation. Pre-Decision Services are critical for employers as they provide valuable information about a candidate’s ability to accept a position and be successful. Assessment data can be paired with structured interview questions to better understand the candidate’s interests, goals, and motivations.

Conclusion

GMS’ team of corporate relocation experts has helped thousands of our clients develop relocation programs that attract and retain qualified employees. Our team can help your company by using industry best practices to design your relocation program for the greatest appeal to positions in China. This will increase your company’s ability to attract and retain new employees as China’s labor force declines and its economy transforms.

GMS was the first relocation company to register as a .com. It also created the first online interactive tools and calculators, and revolutionized the entire relocation industry. GMS continues to set the industry pace as the pioneer in innovation and technology solutions with its proprietary MyRelocation™ technology platform.

Contact our experts online to discuss your company’s relocation program needs, or give us a call at 800.617.1904 or 480.922.0700 today.

Request your complimentary relocation policy review

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