CareerBuilder has recently released a well-documented report on “The Changing Face of U.S. Jobs”, which covers 13 years of ups and downs on the American job market. This piece of US employment news can be a useful tool for those who want to discover trends in the area based on age, gender and race. In this period of time, the United States already faced and overcame a series of drastic changes regarding employment which included two disastrous recessions, recoveries and an alarming growth in health-related professions. The fact is that this piece of US employment news proves that the growth of the workforce is directly proportional with the ever-altering demographics throughout the rest of America. So, exactly how much has the US employment market changed in these 13 years? More importantly, how have these changes affected job openings available today? Find out below.
US Employment News: Female Employment on the Rise
Possibly one of the most encouraging facts in recent US employment news centers around a study regarding the rise of professional positions occupied by female workers. Reportedly, today, female employment is far more prevalent on the market than they have ever been in the history of the United States. Statistically speaking, there are 4.9 million more female employees today than in 2001. Male employees have risen by just 2.2 million.
Unfortunately, it seems that men are benefiting from a wider range of professions than women. Numbers show that occupations destined for men have grown by 72% as opposed to those for women. These professions have grown by a mere 21%. Another slightly upsetting aspect for women is that men still earn a greater average median: $25.51/hour. Compare that rate to the $20.19/hour females typically earn. Jobs that are usually meant for men have a tendency to pay better than those for women. In technical terms, this phenomenon is known as occupational segregation. In occupational segregation, a certain field or activity is represented more by a specific group. Occupational segregation can cause anywhere from 25% to 50% of the gap regarding gender wage.
US Employment News: Teen Employment Sharply Declining
It appears that age is the key factor for this piece of employment news. Teenagers aged 14-18 have faced a 33% decline in employment which means no less than 1.7 million jobs. Studies show that the main reasons are the “weak economic climate” and the lack of growth in population. We have not seen any visible gain in the fields of activity for teen employment including both seasonal jobs and after-school work. Teenagers face a harsh decline in 75% of occupations through the entire job market.
Furthermore, 22-34 year olds are taking more and more job opportunities that were usually destined for teenagers. The main cause is the competitive job market. Well-paid jobs have become ever more challenging to secure. Other studies point out that over 50% of individuals who graduated in 2014 have a job that can be carried out easily without a degree. It has also been demonstrated that 3 out of 10 employers now hire more people with college degrees for positions that were formerly occupied by teenagers fresh out of high school.
The good news for teen employment is that the senior age group has grown by a whopping 8.3 million until now. That means that 40% more people over the age of 55 are now enjoying jobs. This increase has taken place for 99% of occupations. Incredibly enough, the median hourly earnings for seniors can reach up to $92.24 for oral and maxillofacial surgeons.
US Employment News: Racial Diversity is Embraced by the American Job Market
Another delightful fact is that the U.S. workforce is becoming more and more ethnically and racially diverse. This is great news especially for Hispanics/Latinos and Asians, as each specific group made a huge progress in their share of employment for almost all professions on the market – 90% for Asian employees and 96% for Hispanics employees. Thankfully, even though African American employees have stagnated with a 12% share of employment in total occupations and increased in only 22% of occupations, the majority of jobs pay more than the median wage of $20.31 per hour.
On the other hand, Caucasian employees face a drastic decline in 94% of jobs on the market. As in the case of age, the cause is a very slow population growth in these 13 years.
Taking these demographical patterns into consideration, how do you think the job market will look in our near future?
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