American workers are feeling less confident about the economy and their career than they have in years. And with many industries facing technological disruption, at least half of employees are contemplating pivoting out of their current fields — if they haven't already.
According to the latest findings of LinkedIn's Workforce Confidence survey, Americans employed in retail, accommodations, and the oil, gas, and mining industries are the most likely to be considering roles in a different field, or to have recently pivoted to a new industry.Employees in transportation, technology, and consumer services are also more likely than average to be pivoting industries right now. Meanwhile, workers in healthcare, entertainment, and real estate are the least likely to be eyeing an exit from those industries.
On average, just over half of American workers are either considering changing industries, actively looking to make a change, or have already made a change in the past year — 55%, compared to 45% who have no interest in changing industries.
Workers should pause before they pivot. Sometimes the reaction is to cast a wide net as quickly as possible and hope to get an interview. Yes, look outside your current role/industry and yes, leverage your skills. However, be strategic. Do the work to research the organizations well. Based on the results of your research, ask yourself, what professional development do I need to invest in to be ready for this new role/organization/industry? Not everything translates. You may need to make a mindset shift. Make sure the new role aligns with your values. It's important for your mental wellbeing.
Supply chain is almost all I know professionally. But I can't seem to make the jump into entry-level management (i.e., a lead position). When working on the ground level with an assortment of general people, it's hard to stand out and get along with everyone.
Assuming leadership and claiming authority isn't the way I know how to go about things. Ahem, but sometimes you have to learn how to step up and speak out.
At what moment after years of being in the supply chain/logistics industry does a person decide to jump ship? I really want to make more progress but I'm growing old, losing steam, and not getting where I want to be.
Assuming leadership and claiming authority isn't the way I know how to go about things. Ahem, but sometimes you have to learn how to step up and speak out.
At what moment after years of being in the supply chain/logistics industry does a person decide to jump ship? I really want to make more progress but I'm growing old, losing steam, and not getting where I want to be.
Employment: Waiting for the other shoe to drop.
Employment data for March showed a continuation of the healthy performance that has been typical in this expansion. Somewhat more jobs were created than expected, and the unemployment rate edged up a tad to 4.2%. This is according to today's Employment Situation Report from the US Bureau of Labor Statistics.
US payrolls rose by 228,000 in March, bouncing back from weakness in January and February, and above the 18-month average of about 170,000. Private payrolls rose by 209,000.
Government payrolls rose a scant 19,000 jobs, with a small loss of 4,000 federal job counts offset by a modest 23,000 rise in state & local employment, almost exclusively education jobs.
Data from the household survey showed only a modest rise in unemployment, from 4.1% in February to 4.2% in March, because the number of employed persons rose by nearly the same amount as the labor force. Unemployment has remained in a narrow band between 3.9% and 4.2% for more than a year now.
For now, these data show that the US labor market continues the healthy trajectory that we have seen since the recovery from COVID-19 began. Strong enterprise hiring in March occurred despite the massive uncertainty that has swirled since President Trump was sworn in in late January.
Of course, the surveys were conducted before Wednesday’s announcement of massive tariffs on many US trading partners and before we have seen the impact of potential foreign retaliation.
Extraordinary employment strength has supported robust consumer spending and overall economic growth. For now, that continues, but cracks are appearing. Consumer spending slowed sharply at the start of the year. Over the past two months, consumption has contracted by a percent, contributing to forecasts of an outright contraction of the economy for the first quarter as a whole, according to some estimates. (See, for example, the GDPNow estimate at https://lnkd.in/gGMGB9nM.) We still have March consumption data yet to come. It will be released at month end along with the Advance Estimate of the first quarter GDP growth.
The $64,000 question (if you get that reference you are even older than I!) is how the Trump tariffs will affect employment and spending in the months ahead. There is little doubt that the effects will be negative, but it is too soon to know how much. When April jobs data is released, we may see the beginning of the economic costs that are now in the pipeline.
Employment data for March showed a continuation of the healthy performance that has been typical in this expansion. Somewhat more jobs were created than expected, and the unemployment rate edged up a tad to 4.2%. This is according to today's Employment Situation Report from the US Bureau of Labor Statistics.
US payrolls rose by 228,000 in March, bouncing back from weakness in January and February, and above the 18-month average of about 170,000. Private payrolls rose by 209,000.
Government payrolls rose a scant 19,000 jobs, with a small loss of 4,000 federal job counts offset by a modest 23,000 rise in state & local employment, almost exclusively education jobs.
Data from the household survey showed only a modest rise in unemployment, from 4.1% in February to 4.2% in March, because the number of employed persons rose by nearly the same amount as the labor force. Unemployment has remained in a narrow band between 3.9% and 4.2% for more than a year now.
For now, these data show that the US labor market continues the healthy trajectory that we have seen since the recovery from COVID-19 began. Strong enterprise hiring in March occurred despite the massive uncertainty that has swirled since President Trump was sworn in in late January.
Of course, the surveys were conducted before Wednesday’s announcement of massive tariffs on many US trading partners and before we have seen the impact of potential foreign retaliation.
Extraordinary employment strength has supported robust consumer spending and overall economic growth. For now, that continues, but cracks are appearing. Consumer spending slowed sharply at the start of the year. Over the past two months, consumption has contracted by a percent, contributing to forecasts of an outright contraction of the economy for the first quarter as a whole, according to some estimates. (See, for example, the GDPNow estimate at https://lnkd.in/gGMGB9nM.) We still have March consumption data yet to come. It will be released at month end along with the Advance Estimate of the first quarter GDP growth.
The $64,000 question (if you get that reference you are even older than I!) is how the Trump tariffs will affect employment and spending in the months ahead. There is little doubt that the effects will be negative, but it is too soon to know how much. When April jobs data is released, we may see the beginning of the economic costs that are now in the pipeline.