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 executive director of GQR’s New York office, overseeing all daily operations and team members.

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’s placement of countless research analysts, senior software engineers, traders and portfolio analysts has proven paramount in bolstering GQR’s systematic and electronic trading sector and position as an industry thought leader.

Samuel is a graduate of the University of Manchester in the United Kingdom, earning a bachelor’s in management and economics.

Samuel now leads the New York office, working extensively with GQR and Wynden Stark’s mission control, talent acquisition and Client Services teams.

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