Where to Find Jobs During the Downturn
The economy has shed over five million jobs. in the past year, with more than half of the layoffs coming in the past four months. But despite another grim employment report for March, there are a few bright spots in the job market. Some industries are hiring more workers than they're firing.
Steer clear of the transportation, financial services and hotel industries, which have been hit hard by the stagnant economy. Instead, check out employers affiliated with health care, the government and education. Here's a rundown on how these industries are bucking the trend.
Health care: The health care industry has reported a net employment increase for 11 of the past 12 months. March was no exception, when the industry experienced a net increase of 13,500 jobs, according to the Bureau of Labor Statistics.
So where are the jobs? The biggest gains came from nursing care facilities, which added 3,000 jobs in March, and doctors' offices, which hired 3,200 new workers.Certain regions, such as the South, are hotter than others. Jennifer Grasz, a spokeswoman for CareerBuilder.com, says aging Baby Boomers are migrating to warmer climates, causing demand for medical services to rise. Government: The federal government added 8,400 jobs in March. More new jobs are expected thanks to a boost in federal spending courtesy of the recent stimulus package. The East Coast -- which has a relatively high concentration of federal employees and government institutions -- has benefited most from increases in hiring, Grasz says.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV