Top 3 Industries for Transition After a Layoff: Ranked

Top 3 Industries for Transition After a Layoff: Ranked

Currently, the unemployment rate is just 3.7%, but that doesn’t mean all jobs are doing well. Many large companies have recently announced significant layoffs, with the number of layoffs increasing by 98% in 2023 compared to the previous year.

The hiring boom that started during the COVID-19 pandemic is clearly over for many industries, and if you’ve recently lost your job, you may be looking for a completely new career. The good news is that there are many growing industries that will create 4.7 million new jobs over the next decade.

Here are some things worth considering if you want to go in a completely new direction.

1. Healthcare support

10-Year Employment Growth Rate: 15.4D

America’s aging population and the frequency of chronic illnesses, according to the Bureau of Labor Statistics (BLS), will result in a tenfold increase in healthcare jobs. The need for jobs supporting the healthcare industry is expected to increase by 15.4% between now and 2032 as a result of this.

Healthcare jobs include everything from nursing assistants to occupational therapy assistants to medical and dental assistants. Transitioning into some of these careers may take less time than you expect.

According to Indeed, for example, many dental assistant training programs can be completed within one to two years and only require a GED or high school diploma. According to the BLS, the national average salary for dental assistants is $44,710. Accreditation programs can be found on the Dental Accreditation Commission website.

2. Computer Science

10-Year Employment Growth: 15.2D

While computer science is a large field, the BLS data focuses on some key growth areas under the “computer and mathematical” group, which includes programmers, data scientists, web and software developers, and web designers.

Employment in this category is projected to grow by 15.2% by 2032, which may seem strange given that many of the recent layoffs have come from technology companies. However, the recent decline in technology jobs does not mean an overall slowdown in the industry. The BLS notes that demand for these jobs will increase due to increased demand from artificial intelligence, robotics, and machine learning.

One way to get a job in this field is to attend a programming boot camp. Some camps run for weeks or months and teach specific computer programming languages. The average salary for a computer programmer is $89,190, and some coding boot can also help you find a job after completing the program.

3. Community and social services

10-Year Employment Growth Rate: 7.8D

Another category that is expected to see above-average job growth over the next 10 years is local government and social services jobs. Examples of these roles include: Counselor, Therapist, and Social Worker.

Some jobs, such as being a therapist, can require a significant investment of time and money. For example, marriage and family therapists often require a master’s degree. But other jobs in this category, such as social service aide, also require on-the-job training, according to the BLS.

Social worker jobs only require a high school diploma or GED, and the average annual salary is $38,520. Even if you don’t get paid well, you can get great personal satisfaction from supporting others in your community.

Some Tips for Changing Careers

Knowing how to change careers after being laid off can be difficult. But finding a mentor can make the process much easier. Search your existing network to find people who are already working in the field you want to work for. Hiring a career coach can also help you develop a concrete plan for your career change.

Additionally, it`s probably a good idea to assess your personal financial situation before making the switch. Some jobs may require a financial investment to earn a degree or certification. However, depending on your costs and debt situation, this may not be a good idea.

Finally, if you’re seriously considering a career change, consider talking to a financial advisor. These will help you navigate the current economic climate and save and invest money to achieve your career goals.

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