Is your industry shrinking? The truth is, if your most recent job was in a retrenching market, there are always going to be more job hunters than jobs. If you want to reaming in a retrenching field you can plan on a longer job search, potentially lower pay, and if the industry continues to shrink, yet another job search is quite possibly right around the corner.
Instead why not consider a high growth industry? Sure you may need to retool your resume and possibly even pick up a few new skills, but despite the doomsday outlook we hear on the news, there are pockets of growth across the US. IbisWorld, the world’s largest independent publisher of U.S. industry research, shared the following list of the 10 Fastest Growing Industries in Huffington Post earlier this year:
- Solar Power
- Video Games
- Third-Party Administrators and Claims Adjusters
- Environmental Consulting
- Correctional Facilities
- E-Commerce and Online Auctions
- Wind Power
- Internet Publishing and Broadcasting
- Voice Over Internet Protocol Providers
A slightly older report from the Bureau of Labor Statistics lists the Top 10 Growing and Shrinking US Industries. Even though it is nearly two years olds, this reports provide job seekers with direction… a way to focus your job search on areas of opportunity. While you may not be an expert in wind power, what’s to say a wind power company doesn’t need a ace accountant, administrator or analyst?
As you look to apply your skills and talents to new industries you’ll need to do your homework. Read trade journals, attend industry events, conduct information interviews, and fill in any gaps you identify in your skill set. Switching industries may not be as easy as finding the exact same job in the exact same industry, but if yours is shrinking now may be the time to set your sights higher.