If 2017 was any indication of the future, then we’re in for a fun ride in 2018. Many industries are growing, and so is the job market. The U.S. economy has added jobs for 85 straight months, showing some of the strongest economic growth in our nation’s history.
Here are some things to expect in the job market in the new year:
Tech continues to grow
As big companies like Amazon, Apple, and Google continue to expand, they start to hire more and more people. The industry leaders aren’t showing any signs of slowing down, so we can expect tech jobs to continue to grow in 2018.
Cybersecurity gets more complex
In our highly-advanced technological world, cybersecurity is now more important than ever. In a recent article from The Wall Street Journal, it was pointed out that cybersecurity jobs are becoming more and more complex. Traditional skills that were once in high demand are outdated for the industry. Look for this complex job market to expand not only in size but in demand for talent.
Right along with the growing tech industry is the growing healthcare industry. With legislation in Washington about to change, it is uncertain as to what will happen in the healthcare job market. Many believe that it will mimic 2017.
Artificial intelligence will help put more of a human touch back into the industry, which will help professionals give better care to their patients. Combine the increased use of artificial intelligence with the need for more cybersecurity, especially in healthcare, and it is certain that IT positions at healthcare institutions will become more popular.
As the new tax plan passes through Washington, and parts of Dodd-Frank are being rolled back, banks will have more freedom. This will inevitably lead to opportunities for growth. Smaller banks will once again be able to deal in the market more freely. This will inevitably lead to more job creation in the industry.
As both domestic and foreign markets continue to grow at record percentages, the financial industry will become more prominent. As investors get more confident with their spending, look for economic growth to sustain job growth in the coming year.
Mining digs itself out of slump
For the first time in several years, the mining industry is forecasted to trend upwards in 2018. At the Prospectors and Developers Association of Canada (PDAC) in March 2017, presenters gave optimistic views of the mining industry for the next five years.
With this wave of optimism, global growth projections continue to rise. As measured by the JP Morgan Global Manufacturing and Services Index, the global economic activity showed output rising at the fastest rate since March 2015.
We are currently witnessing drastic growth in metal prices. For example, Zinc has more than doubled in value after a decade-long slump. Copper prices recently reached $7,120 a ton, ending multi-year lows that hit rock bottom in the beginning of 2016.
Only time will tell what 2018 will bring to us. We’re only three weeks in and we’ve already seen some interesting moves being made. The job market, however, looks like it will continue to grow in this economy.