What's in Store for Jobs in 2012?
The U.S. economy added 1.6 million jobs over the last year, a figure that is dwarfed by the nation's 13.3 million unemployed and an additional 6.6 million people who are not in the labor force, despite still wanting jobs. At 1.6 million, jobs are being created at an average of 130,000 a month, barely enough to keep up with population growth. Will the country make any headway in 2012? Here are 5 things to expect from the U.S. job market in the next 12 months.
No Help from
There is at least one year left of a divided
More Slow Growth
The good news is that the job market will continue to see improvement in 2012, much like it saw in 2011. The bad news is that job growth in 2011 was moderate, at best. According to
"The next 12 months are not going to be distinguishable from the last 12 months in terms of job gains," says Montgomery. "Jobs are up 1.6 million from what they were a year ago, and our calculation of the next year is 1.7 million, so...no one in the real world is going to see the difference between 1.6 million and 1.7 million."
Healthcare, Manufacturing Still Robust
Though it's discouraging to see predictions for continued slow growth, those industries that are currently doing well will likely continue to strengthen. One is healthcare, which has seen steady upward growth in strong and weak years alike. According to Montgomery, healthcare employment will continue to grow in 2012, possibly even more rapidly than it did in 2011, as the population continues to age and require more medical attention. According to
Stabilization in Local Governments
"One place where there's a semi-bright spot is that the state and local governments, which have been a major drag over the last year," says Montgomery. Having made substantial cuts -- 618,000 jobs since the start of 2009 -- those governments have learned to do more with fewer workers. The public sector, says Montgomery, will therefore "still be a drag, but far less of a drag" in 2012.
Of course, may of those state- and local-level government jobs are still in jeopardy because of the continued weakness in housing. In his outlook for 2012,
Relief for New Graduates
Employers plan to hire 9.5 percent more members of the class of 2012 than from the class of 2011, according to a survey released in October by the
However, it is important to note that the anticipated uptick in hiring in 2012 will not be due to growth; many employers told NACE that they will be hiring simply to replace exiting employees.
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What's in Store for Jobs in 2012? | Politics
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