World Of Work Flashcards
World of Work
Factors shaping U.S.
Labor Markets
• Global Trade
• Technological Developments
• Current Business practices
-
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Global Economy
Outsourcing / Offshoring
- 1.2 Billion people live on $1 a day
* 245 million children work (ages 5-I7
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Technology
• Estimated 38% of U.S.
workers will be replaced
by robots and A. I.
by 2032
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Business Practices
• Outsourcing and Downsizing
• mergers and Acquisitions
• Decline of Big Business and Growth
in small Business
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Business practices
Outsourcing and Downsizing
• not always outsourcing entire company
work.
• sometimes outsource specific departments
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Business Practices
Mergers and Aquisitions
- bigger market share
* reduce costs and redundancy
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Business Practices
Decline of Big Business
and Growth in small Business
- Fewer people employed is less expensive
- Personal decrease
- emphasis on cost
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Looking to the Future
• Globalization • Technology • Downsizing • The above makes the world of work volatile and uncertain.
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Which major industry sectors are growing the fastest?
Health Care and Social Assistance
Professional and Business Services
Leisure and Hospitality
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Which industry is the predicted biggest loser?
Manufacturing
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Why shouldn’t we put much stock in projections?
Economic Recession
Rates of tech change
Disasters
Alterations in retirement practices
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Employment Outlook
Lifetime employment no longer exists. Can’t get job out of high school and stay until retirement anymore. Employment is “at will” Multiple job changes throughout life Working beyond retirement Fewer/ no benefits or pensions
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Today’s World of Work
Self employed Employers now customers Developing and maintaining skills Lifetime employability Reputation helps employable We have to keep improving and learning and know how to jump back into the work force if something happens.
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Gig Economy
Many workers are now temporary, contingent, contract, casual, freelance, self-employed, external.
People can now take skills from various trainings and use them for finite projects.
20% of employed people do this
World of Work
Sources of Occupational Information
Occupational Outlook Handout (OOH)
O*NET online
World of Work
Sources of occupational information
Occupational Outlook Handbook
OOH
detailed information about occupations
Growth projections,
World of Work
Sources for Occupational Information
O*NET
Get photo on here
knowledge, skills, abilities
RIASEC?
Interests, work activities, work contexts
World of Work
Sources of Occupational Information
Job Search
Indeed.com Michigan.gov/careers Job-hunt.org Careeronestop.org Keyword Skills matches
World of Work
Sources of Occupational Information
Hidden Job Markets
Apply to jobs even if they don’t exist.
Research employers in keyword on
Careeronestop
Ancinet.org
World of Work
Sources of Occupational Information
College Search
The College Board
Narrows searches for college
World of Work
Sources for Occupational Information
Free Test Prep Websites
4Tests
Test Prep Review
Never take tests without practice
World of Work
Sources of Occupational Information
Other ways of gathering information
Informational Interviews with someone in the field.
Job shadowing
Volunteering at volunteer match.org
