Skip to main content

Adam H - Labor Market Outlook


The Bureau of Labor Statistics recently announced their results from the studies regarding the future of the labor market in the U.S.A, in which several experts, including business real estate executive Adam Hochfelder, elaborated their thesis on the labor market outlook. Apart from the actual trend of employment development, the study focused on the employment dynamics in the major industry sectors by 2035.

The further expansion of the labor market and the ongoing worldwide globalization of industry, trade, and services are resulting in new and changed skills requirements for employees. Hochfelder, an ARTIC member, has extensive experience in the real estate market, and as he says the world financial markets are comparing every location in terms of the profitability of an investment.

Due to the increasing number of retiring workers and the constant population growth, new job openings are forecasted, which means the number of workers is expected to increase. Considering this, Adam believes that we are most likely to see expanding employment in the service sector, in order to meet the demands generated by the aging. Adjusting to climate changes, the positioning of certain tourist destinations and university centers will also have an effect on employment. Adam recognized identified additional potential in the sectors of information and communication technologies, as well as science and research.

Employment might decline with the expansion of the sharing economy and industry 4.0 logistics, transport, storage. Qualification of workers in the future will be even more important after the automation of routine activities.

Demographics will be the main driving forces shaping the labor market conditions into the future. However, industries that are expected to experience largest employment increase belong to the health sector, social sector, pre-school and education. New job openings will be available in the hotel and restaurant businesses, the ICT sector (software, applications, cloud computing, big data) and services based on information and consultation.

Current trends will mostly reflect in the financial sector and insurance, and as Hochfelder says in an extensive Educause text, these changes of re-dimensioning finance and closing branches are already revealing hints about the statistics on the labor market.

These date forecasts are for individual sectors. Ecological adaptation, especially in the field of energy and transport infrastructure, and the expansion of public transport will be the focus of the construction industry which is projected to have moderate growth. A slight increase is also predicted for the trade business, due to the moderate growth of purchasing power and prosperity of online shopping.

In the field of telecommunications, media and publishing currently there are no major expectations for new job openings. When it comes to real estate, culture and creative activities the greatest benefit will go to those occupations related to technology (video games) and tourism-oriented culture and events. Unfortunately, as Adam Hochfelder explains, the bad predictions are for small businesses. The public sector will remain the main pillar of the American employment market and create new sites primarily in the area of infrastructure or digitization, and e-government might lead to cutting jobs.
Labels:
Location: New York, NY, USA

Comments

Post a Comment

Popular posts from this blog

Things to Know About Investing in Hotel Properties

The hospitality industry is one of the most solvent and fluctuating industries. On a daily basis, this industry deals with transient customers. According to the real estate investor and developer, Adam Hochfelder , this type of the business climate in the hotel industry provides numerous lucrative reasons for investing in hotel properties. Here, Hochfelder gives the key variables you need to take into account when planning your investment. Overview of Asset Classes According to the type of services they provide, there are four main types of hotels: full-service limited-service budget hotels extended stay The "full-service" offers everything a guest might want, including restaurants and bars, conference halls, fully equipped spas, and leisure and sports centers. The "limited-service" is a step-down and offers almost as much as a "full-service". This is typically a restaurant, a fitness center, conference rooms, and a swimming pool. This
Post a Comment
Read more

Hochfelder: Why Millennials Don’t Spend on Things but on Experiences?

Instead of buying property and belongings, Millennials, or the Millennial Generation, born between 1980 and 2000, is turning to the “experience economy “or the “economy of happiness”. As New York businessman Adam Hochfelder explains, for them, experiencing something has greater worth than buying a branded handbag. The shift in the consumer’s habits has left a serious mark in the stock market. The last few years have brought an increase in everything related to travel, airline, industry experience, massive festivals, sports championships, restaurants, and cafes, whose tracking indexes in the US and the European stock markets have reached the highest value, after 2011. Massive festivals embrace every category of electronic dance music, with more than 150 appearances, in 3 days on 4 stages. The latest sound systems, lighting spectacles, and fireworks lead the ultimate journey through the entire spectrum of electronic music. There meet the most beautiful creatures in the world with
Post a Comment
Read more

How to Start a Real Estate Investment Business

Investing in real estate can bring life-changing results. Being able to provide for your family and set yourself up for an easier future is a possibility when you’re investing in real estate, but it doesn’t come without some hard truths. For new investors, getting into the business of buying, selling, and renting homes may seem pretty ambitious. But like any other area of personal finance experts, real estate investing eventually comes down to some simple basics. Making a Plan With the right strategies, patience, and a willingness to learn, it’s a discipline that can help you make strides on the path to financial independence.
Post a Comment
Read more