I had met with a client within the discussions we were discussing where the job market is going to be in 2020?
Within the great recession many of the jobs lost are gone for good, they have been eliminated and the companies have survived without them. They will not be returning as we can tell by the unemployment statistics.
Technology is also becoming an issue. My understanding that the medical industry one of the largest and fastest growing is being impacted greatly by technology leaps. Take the hematologist, in the past all blood work was done in a hospital was done by a well paid hematologist. Now only one is one staff hematologist and the bulk of the blood work is handled by a low paid technicians who has the blood tested by computers. The high paid person is still in place on the chance the computers go down.
Another example is the X-Ray technician. In the past they took the x-ray, developed it and then interpreted it. Now there is a digital scan and it is read directly by the doctors.
The medical industry growth seems to be in the low technical capacity, CNA’s and the like; where more brawn is necessary then brains.
There are restaurants in Japan that has robot handling the preparation of foods. In 2009 a restaurant, called FA-men (pronounced Fu-a-men) based in Nagoya, Japan. The restaurant takes its name from the phrase “Fully Automated raMEN”. It is a matter of time until the US starts something similar. Think of all the McDonalds out there, if they can save salaries, payroll taxes, unemployment, workers comp insurance and any benefits; wouldn’t they make the changes once cost effective.
In 2020 the Baby Boomers will be over 55 years old. The Boomers are expected to be 25.2 % of the work force and 34% or the work force will be Hispanic up from 14.8 in 2010.
Nonagricultural jobs account for 9 of 10 jobs. 25% of all new jobs are expected to come from construction, retail trade and offices of health practitioners.
So where will the jobs be, what will be the educational requirements for those jobs. Will you and your children be prepared for the future?