Half of U.S. Workers Want to Change Jobs

Take this job and shove it? That is the message coming from the latest LinkedIn’s Workforce Confidence Index, which revealed that nearly half of U.S. workers are looking for a job change in 2024.

According to the recent report, workers in retail and hospitality top the list of those who will be updating their resumes and applying for new jobs this year. Many plan to make a move in order to earn a larger paycheck.

The rest of the top 10 list includes: administrative and support services, arts and rec, technology, information and media, transportation, logistics, supply chain and storage, financial services, education, professional services and consumer services. Workers who are satisfied with their pay grade and expecting a raise in the next six months are less likely to make a job shift.

About 44 percent of educators in the United States—the 8th top industry looking for a job change—will look for a new position this year and only one-third of them anticipate a pay raise in the next six months, coming in at the lowest rate for all industries surveyed in the index.

Employers in all industries should be looking out for workers who plan to leave—and welcoming new employees with open arms.

What Industries Are Growing the Fastest?

The U.S. workforce continues to evolve and innovate as the pace of change never flows. In 2024, there are five key industries expected to lead the way in terms of growth, jobs and overall success. Read on to discover what they are and how they are projected to get ahead.

• Tech: Not surprisingly, the technology sector leads the way when it comes to innovations and advancements. In 2024, expect to see more AI, more data analytics, more virtual reality and more, more, more when it comes to the latest and greatest in tech.

• E-commerce: Along the same lines, the online world of shopping continues to proliferate. As digital transactions become even easier to make, more consumers will turn their purchasing power online.

• Health care: The world of health care—and again, technology—is benefiting from revolutions in telemedicine and personalized medicine, wearable devices and a need for care across the globe. This sector, too, will flourish in 2024.

• Renewable energy: Solar and wind energy are now commonplace and support greener, more environmental practices that help individuals, businesses and communities meet their sustainability goals.

• Biotech: Back to technology, again! Biotechnology combines innovations in tech with scientific advances, which can support every other industry. From new research to genetic engineering to pharmaceuticals, biotech is definitely an industry to watch.

These five industries will spark growth, jobs and headlines in the year to come—keep an eye on technology, e-commerce, health care, renewable energy and biotech for many exciting developments.

What Gen Z Really Wants When It Comes to Work

Gen Z—the generation of Americans born between 1996 and 2010—knows what it wants when it comes to work, careers and professional satisfaction. Not surprisingly, flexibility, money and job security top the list for this group, which represents about 20 percent of the U.S. population. As more members of this younger generation enter the workforce, successful employers will take note of their priorities.

Interestingly, they comprise a smaller share of the workforce than Gen X and millennials at just over 70 percent, and they are also better educated than the preceding generation. Overall, this generation of workers, which is more keyed into the importance of mental health and wellness, seeks meaningful work that comes with flexibility and true work-life balance.

Further, a solid salary and benefits package are also important—longer hours and micromanagement top the list of turnoffs. The flexibility of remote work is another notable plus.

Gen Z is especially interested in tech jobs, consulting, engineering and freelance work. And employers are interested in hiring more young employees—more and more companies are also recognizing that they may need to bridge the knowledge and cultural gaps among generations in the workplace.

As veterans of learning, interning and finding their first jobs during a global pandemic, Gen Z knows what it wants and is willing to wait to find the right position. Employers may need to roll out the red carpet and offer an impressive package to attract the best of the best.

U.S. IT Staffing Industry Continues Fast-Paced Growth

Hot on the heels of an incredibly strong 2022—where revenue grew by 16 percent—the U.S. IT staffing industry is poised for 5 percent anticipated growth in 2023. And that’s not all: The industry is expected to grow by 7 percent in 2024, showcasing three overall strong years for IT staffing.

In 2022, IT staffing industry revenue grew 17 percent. Current challenges include a higher interest rate environment, slower wage increases, recession potential and increased caution for clients, among others. The second half of 2023 may see stronger overall economic growth and greater government spending.

On the whole, the U.S. staffing industry grew 28 percent in 2021, reporting more than $186 billion in revenue; it is expected to grow about 2 percent to exceed $216 billion this year—representing one-third of total global staffing industry revenue. It exceeds the combined revenue of the staffing industry in Australia, France, Germany, India, Spain, Sweden, Saudi Arabia and Turkey.

Canada, for example, is anticipated to reach about $8.6 billion in staffing industry revenue this year with France at $30 billion, India at $8.3 billion, the UK at $57.6 billion, Sweden at nearly $4 billion, Belgium at $7.7 billion and Japan exceeding $98 billion in revenue.

In 2021 and 2022, healthcare staffing led the way for the United States, growing 18 percent in 2022 alone so that it now represents the largest portion of staffing in the United States.

Manufacturing Jobs Returning in Droves to United States

In the past few decades, more and more manufacturing jobs have been outsourced or lost to other countries, due to costs and regulatory environments, among other reasons. This unfortunate trend, however, is starting to turn around as more of these jobs are making their way back home.

Here is a closer look at why and how manufacturing jobs are returning or “reshoring” to the United States:

• Industry and technology growth. Both the auto and electronics industries continue to grow at a fast clip, both requiring advanced manufacturing capabilities and supply. Some of these products are unwieldly and expensive to transport; likewise, products that require more advanced technology need the most skilled workers to create them, further solidifying the reshoring of manufacturing jobs.

• Money, money, money, money. Many manufacturing jobs originally left because labor and production were significantly less expensive in other countries. However, overseas wages continue to grow at a brisk pace, decreasing the desirability of offshore jobs. Asia—China, in particular—has recorded the fastest growth in wages. The gap between home and away is smaller than ever, making it more affordable and logical to do business in the U.S.

• Lots of logistics. Simply put, it is easier to do business closer to home. Overseas supply chain issues have also made headlines and raised prices. Finally, doing business abroad isn’t less expensive if you have to build new facilities and parts, pay for transportation and shipping, and hire workers who are getting more expensive every day. All of these logistical challenges mean it’s easier to do business in North America than on other continents.

While manufacturing jobs change with the times, more of them are now available in the United States and even more are expected to transition back home.

U.S. Job Openings Reach 5-Month High

Job openings in the United States reached 11 million in the last month of 2022, growing by close to 575,000 positions, a jump that surprised many experts, to reach a five-month high.

For every unemployed person in the United States, there were nearly 2 job openings, according to the latest Labor Department report. In particular, there were more than 400,000 open jobs in the food services and accommodation industry, which continues to lag its pre-pandemic staffing levels.

The labor market remains tight; however, the U.S. central bank still went ahead with a 25-basis-point increase of its policy rate, vowing more but smaller ongoing increases for borrowers. Wage growth was slow in the fourth quarter but could remain solid due to this latest report on job openings.

Other industries with notable openings include retail trade and construction. While some believe the latest report was a signal of a seasonal blip, others expect a challenging labor market for months to come.

Manufacturing Jobs Make Their Way Back to the United States

In a bit of good news for the U.S. manufacturing industry, Corning announced that it will partner with AT&T to open the first fiber optic manufacturing facility in the western region in an effort to expand U.S. manufacturing jobs and keep pace with the growing demand for broadband access. The new Arizona plant is anticipated to open by 2024, with the goal of bolstering capacity for the optical cable that is needed for internet access and 5G.

The supply chain crisis played a key role in the decision to open this facility. With ongoing product and material shortages and more people working from home, the demand for optical cable is unprecedented.

Across the manufacturing industry and the political spectrum, the aim is to return more manufacturing positions and plants to the United States in an effort to better compete when it comes to technology while supporting also U.S. remote workers. Presently, China and Japan lead the way in exporting fiber optics.

According to Corning, about 850,000 new jobs will need to be created in the next three years to install the cable. Once it is manufactured; this plant will offer about 250 positions.

The Great Resignation Transitions into a Great Job Market for Employees

In contrast to the Great Recession a dozen years ago, today’s “Great Resignation” is witnessing more and more employees leaving their current jobs in search of something new and different. More than half of workers intend to seek a new job this year, according to the Society for Human Resources Management. While this has sent many companies and HR teams scrambling, workers today have an abundance of options when it comes to finding their next position or career.

Experts predict an incredible hiring boom in 2021 as the Great Resignation has coincided with the Great Reopening of the U.S. economy. More companies are bringing back furloughed employees or those who have been working from home and updating their hiring plans for the months to come. Industries that were hit hard by the pandemic are rebounding.

What does this mean for workers across the country? Opportunity.

Job seekers will have more options—and more incentives—than they’ve seen in a long time. To entice new talent, companies are upping salaries and benefits, offering more flexible work schedules and creating appealing office spaces.

In addition, more businesses across the country are updating their hiring and retaining procedures with the goal of creating more satisfied long-term employees. Job seekers are emboldened to ask for more flexible scheduling, support with childcare or eldercare, and mental health support.

Companies that recognize the need for employee-forward programs and hiring practices are likely to come out ahead as the Great Resignation begins to shift into the Great Hiring.