Disappearing jobs and growing industries

Tuesday, January 18, 2011
By Sara Moore
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If you’re looking for a job in this recession and haven’t had any luck, it could be that your profession is disappearing. Yusuf Wilson, job coach and author of Time To Get Hired! tells us which jobs are on their way out and one that is growing.

“We’re not buying new homes, new cars and durable goods the way we used to, and we’re not reading newspapers in the age of the Internet,” Wilson said. “Those are four job sectors affected right there, between construction workers, auto workers, realtors and newspaper employees. Because of the labor conditions and other market pressures that have changed for good, the number of jobs in those fields will never return to their former levels. As a result, people need to think about re-educating themselves and preparing for jobs that will be around for a while.”

OUT

Construction
Unemployment in the construction area was up to 17 percent this past August, up from 16.5 percent a year ago. The housing market is still floundering, and inventories are still vast because of the millions of foreclosures.

Realtors
Since 2006, the realty sector has lost 200,000 jobs, because houses aren’t selling the way they used to. Most realtors don’t work on a salary, but rather, on a commission. So, if they don’t sell, they don’t eat. Many have already pulled up their shingles and begun seeking work elsewhere. If the housing market doesn’t recover, neither will the realty sector.

Automobile Industry
So far, Detroit has lost close to 300,000 jobs, and for every car company worker laid off, three more are laid off in related industries, such as car dealerships. The domino effect isn’t going away, as many consumers shift to buying used cars to save money.

Pharmaceuticals
The drug business has a different push and pull — patents. Many of the big drug company’s patents are going to expire, meaning generic companies will be able to sell popular prescriptions for lower prices soon. Look for jobs in that sector to dry up until the next Viagra or Claritin comes along.

Banks
Two pressures are driving away bank jobs. Thousands of banks closed during the recession at the same time automated banking and Internet banking have become popular with consumers. That means fewer banks, and fewer need for bank tellers. The Internet isn’t going away, so those jobs won’t be coming back.

IN

The Green Industry
“From 1997 to 2008, green jobs grew by a factor of 67 percent, and with the Obama Administration promising to create as many as 5 million jobs over the next decade, it’s time for job hunters to match their education to the job trend that is tracking upward,” Wilson added. “If you want to ensure that you’ll have a career that is practically economy-proof, go green. Green construction, consulting and administration are all job sectors that are becoming stronger, even with low consumer confidence and high unemployment.”


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