The world is experiencing a period of uncertainty. Read to know how it influences the labour market and check out the industries that keep growing despite all odds.
What is the job market experiencing right now?
Labour market challenges in the post-pandemic world are not easy to tackle. When COVID-19 broke out, companies and employers faced various issues, such as layoffs, mental exhaustion, shutdowns, and complicated and strict pandemic measures. However, everything didn’t suddenly become normal again as soon as most of the restrictions got lifted. The world keeps experiencing dramatic rising in energy prices and inflation. The term ‘’recession’’ appears in various media from time to time.
Economic changes come hand in hand with new social phenomena. Many workers started thinking of changing a job or even the sphere they’re occupied with. This tendency can be traced back to the pandemic, and nowadays, it keeps thriving with people trying to reflect on their life choices and priorities. Remote jobs keep stealing the show allowing people to be more flexible. Their number has dramatically increased even in the spheres assuming your full offline engagement. For example, if you have the necessary background and education, try a position as a remote medical coder. Not only will you be able to work remotely, but you also can try to cooperate with several clinics or hospitals.
One of the implicit and underrated outcomes of the current crisis is that employees are massively switching to moonlighting. The salary rise often becomes a challenge. Therefore, specialists eagerly do several separate projects simultaneously or accept various side hustles. Although it is a robust way to improve your financial security, your productivity at the central working place is likely to get seriously affected by the workload.
What industries feel better?
However, figures say that the situation is complicated yet not that desperate. For example, such spheres as hospitality and travel have been on the rise over the past year. With the relaxation of most restrictions, people started making up for the lost time. This summer, most tourist places were overcrowded with people, which meant more workplaces for specialists working in hotels, restaurants, travel agencies, driving, the beauty sphere, and entertainment. Add an opportunity to combine traveling and work. People now are more eagerly moving to other countries and working remotely. Thus, co-working spaces and other places with high-speed internet, good light, and a friendly atmosphere have become much needed even in quite small towns.
If the industries mentioned above remain fragile to changes and the threat of renewed COVID restrictions, such ever-green spheres as computing and technologies are serious as ever before. Specialists' data analysis and artificial intelligence (AI) roles are skyrocketing. These instruments have become an indispensable part of many industries, including
- marketing,
- manufacturing,
- agriculture,
- retail, etc.
- Medicine is also one of the spheres where artificial intelligence and data analysis become game changers. New technologies help solve urgent problems, such as creating new vaccines and processing data on how medicine can influence thousands of patients in the short and long run.
How is the labour market tackling the crisis?
Although the world is again plunging into a situation of high uncertainty, the case is far from catastrophic. For example, unemployment has decreased over the last few years, and many industries are fast recovering from the pandemic restrictions. Technologies keep developing at speed light, and the culture of working relations is experiencing dramatic changes resulting in a more humanistic approach. Young specialists actively advocate the idea of work-life balance, mainly that you must be productive and focused during working hours but leave work at the office after 6-7 p.m.
Flexibility is another crucial element in tackling the crisis. When employees get more opportunities to work from wherever they are, it doesn’t hurt productivity or involvement in the short run. Companies that manage to elaborate human-centric retention strategies always include the flexibility factor. In general, taking care of employees is something employers have to pay special attention to. Considering the recent tendencies when workers reconsider their professional path and working environments, companies must understand that the highest productivity teams can often face a high turnover rate.
Nothing is more permanent than changes themselves. Without much rest, the labour market is again entering another turbulent period. However, this time companies and employees have more profound backgrounds and a clear understanding of how to tackle the upcoming challenges. Relieving COVID restrictions, governments helped many industries stay afloat and compensate for the lost time. Other sectors, especially those tightly connected to technological advancement, also keep developing. High energy supply prices remain high, and this fact drives inflation.
