Though unemployment within the United States has fallen to 3.7 percent during September, a record that was renewed after 49 years, the growth in job market just seems to be getting started. According to CEO of CareerBuilder, Irina Novoselsky, around 8 million jobs are likely to be created within next five years and most of them could be centered in the fast expanding technology sector. During an interview she said that emerging fields like artificial intelligence, robotics, cyber-security and related technologies are the major reason. She said that though low-wage industries like manufacturing are present, there is also a rising skill deficit in technical industry.
During September, around 18,000 manufacturing jobs were created as a part of 134,000 non-farm payroll, according to Bureau of Labor Statistics while technology is driving growth in high wage sectors like nursing, software development, accounting, marketing and secondary education. While low-wage occupations have witnessed growth of 5.69 percent, the expected net growth in high-wage industry is likely to be at 5.71 percent. According to Novoselsky, around 70 percent of new jobs, even simple manufacturing ones, will involve some amount of technical expertise, an issue which has made it difficult to get right employees for middle-wage job opportunities.
Novoselsky further said that while top executive level is growing and the entry-level job opportunities are also growing with easy availability of staff, the middle tier is getting hollowed out. Job growth in low-wage occupations is likely to be fastest for positions like food service, health aides, chefs, retail and vocational nurses. The mid-level employees are stuck in a limbo wherein they have to reskill or up-skill themselves to move up the career ladder. If these middle-level employees do not move with time, then they are likely to get left behind; but when they learn the right skills, they will move up relatively fast.