Country Profile: United States Labor Market

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Country Profile: United States Labor Market

By Samuel Totham | June 4, 2019

It’s clear the United States job market is in candidates’ favor. According to the World Economic Forum’s “The Future of Jobs Report 2018,” talent availability is the driving force of organizations’ job location decisions in every industry except energy utilities and technologies.

Technology Adoption

Technology is a major culprit of the skills gap. And the report shows the top technologies being adopted by US companies:

  • User and entity big data analytics (89%)
  • Internet of things (80%)
  • App- and web-enabled markets (76%)
  • Machine learning (75%)
  • Cloud computing (71%)
  • Augmented and virtual reality (66%)
  • Encryption (60%)
  • Digital trade (57%)
  • Wearable electronics (56%)
  • New materials (55%)
  • Distributed ledger (blockchain) (52%)
  • 3D printing (47%)
  • Stationary robots (44%)
  • Autonomous transport (43%)
  • Quantum computing (41%)
  • Non-humanoid land robots (38%)
  • Humanoid robots (25%)
  • Biotechnology (25%)
  • Aerial and underwater robots (22%)

Shifting Skills

Work in the United States is changing. Due to the adoption of new technologies, emerging roles in the United States workforce include:

  • Software and applications developers and analysts
  • Data analysts and scientists
  • Managing directors and chief executives
  • General and operations managers
  • Sales and marketing professionals
  • Sales representatives, wholesale and manufacturing, technical and scientific products
  • Human resources specialists
  • Financial analysts
  • Financial and investment advisors
  • Database and network professionals

Emerging skills include:

  • Analytical thinking and innovation
  • Creativity, originality and initiative
  • Active learning and learning strategies
  • Technology design and programming
  • Complex problem-solving
  • Critical thinking and analysis
  • Leadership and social influence
  • Reasoning, problem-solving and ideation
  • Emotional intelligence
  • Systems analysis and evaluation

To account for the shifting skills needs, companies reported a variety of responses, including looking to automate the work (84% say it’s likely), hiring new permanent staff with skills relevant to new technologies (also 84%) and retraining existing employees (81%).

As told by the survey, more than half of the US workforce will need reskilling and the commitment varies from less than one month to over a year. Internal departments are most likely (52%) to provide the upskilling.

 

READ ALSO: How Upskilling Will Boost Retention & Lower The Skills Gap

 

 

About the Author
Samuel Totham

Samuel is Chief Strategy Officer and Managing Director – overseeing GQR’s Front Office and Client Services operations.

Based in New York, he is primarily responsible for defining and implementing market and people strategies to support GQR and Wynden Stark in realizing business objectives. Additionally, he plays a key role in identifying and vetting members of the leadership team and is responsible for all Front Office investment decisions.

His prestigious background in recruiting within the systematic and electronic trading spaces has developed unprecedented relationships with executives and world-renowned companies throughout London and the United States.

Samuel is a graduate of Manchester Business School, University of Manchester, earning a BSc in Management Science and Industrial Economics. He splits his time between New York, Los Angeles, Austin and London and is an avid traveler, skier and kite surfer.

 

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