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The Job Market's Declining Industries
When looking for a job, which industries should you avoid? In the back of our minds, we all have our ideas. Garbage collecting? Bleah. Coal mining? Way too dangerous. Teaching driver's education to high school students? Run for the hills.
When examining some of the worst industries in terms of job growth, however, several factors come into play. Is the industry in the midst of consolidation? Are there looming technological advances within the industry that could alleviate growth? And let's not forget the 21st Century's scariest word for office workers across the US: outsourcing.
Along these lines, it's not surprising that an article in October 2007 from Forbes lists manufacturing jobs, textile workers, and office clerks as the top industries that will see major declines in growth, all primarily due to technological advancements. (According to the US government, office clerks alone will experience a 36% drop by 2014.) Also, as you use your digital camera, more and more workers in the photo processing industry will feel the pinch (30%).
Here are some other industries projected to experience little to negative job growth over the course of the next ten years that might surprise you.
Computer Programmers -Forbes states that although the high-tech industry is expected to achieve steady growth over the next several years, the actual number of programmers will remain static. The reason? Outsourcing. Companies will continue the ongoing trend of taking nonessential operations overseas in order to save costs.
Journalists - This one makes sense, too. The Department of Labor states that the journalism industry is projected to grow by just 5% in the next decade. With journalistic coverage expanding almost daily on TV and the Internet, the number of print journalist positions will inevitably stabilize or decline. Even Clark Kent will have a blog soon (probably with a lot of stories about Superman).
Radio Announcers - Your local morning DJ might soon have it rough. As the radio industry undergoes considerable consolidation and faces a period of technological advancement, the number of radio announcers is expected to decline by about 5% over the course of the next decade. The upcoming merger of Sirius Satellite Radio and XM will only eliminate competition in the growing satellite radio market.
Travel Agencies - The on-going battle ensues: The agents vs. online travel services juggernaut. When it comes to booking travel, people are simply eliminating the middleman and booking themselves. The Department of Labor forecasts a 6% decline in the travel agent industry by 2014, and this is on top of how long it took the industry to bounce back since September 11. For travel agents, it might be best to zero in on a particular niche market (luxury travel bookings have been on the rise) or specialize in travel to a specific region.
Government Employees - Surprised? After September 11, the government notably expanded its workforce due to homeland security concerns. However, more and more federal government jobs are going to private contractors these days. In fact, Forbes reports that a House of Representatives panel earlier this year found that federal spending on contracts skyrocketed by 103% between 2000 and 2005.
When working in these industries, keep in mind this is a static way of viewing the job market. Economic and political forces are always in play; and the market is dynamic, constantly in flux and cyclical. Still, note these potential roadblocks and stick with your talents and skill sets, even if your industry might see some rough patches ahead. Specializing in a particular niche market or segment within these industries is also helpful. Being forewarned is forearmed.
