Becoming ‘job ready’

Understand trends in the job market

There will always be certain career paths that are growing and more in-demand than others. You must understand these trends. If you are unsure of what skill to obtain, think about pursuing a career in an in-demand sector. In today’s world, education, IT, and marketing are some of the most stable, in-demand career fields.

A report by McKinsey, drawing on survey data from nine countries, found that less than half of employers (43 per cent) were able to find the skills they needed in entry-level workers.

With the job market in Nigeria already beginning to take a hit amidst an impending threat of a recession, the country’s unemployment rate, (which at an all-time high of 33 per cent) is bound to exacerbate further.

With just 5 per cent of workforce formally skilled and 70 per cent of the 35 million youth who enter the workforce each year not “job ready”, despite the gains from educational attainment and a wide range of initiatives by the government and the private sector.

One reason for the sluggish uptake of young people for entry-level jobs in India is the distinct mismatch between the current skills and the skills required for newer jobs.
In order to keep pace with the fast evolving labour market, we need to address this gap which obviously is not happening with the present skill training curriculum — at least not at the pace that the labour market demand, he said.

This study also highlighted youngsters today are aware of the need to be tech savvy, and therefore digital literacy was a high priority topic for most aspirants.


Skills that Boost your Employability

Even in the midst of the prevailing drag or downturn in the many sectors of economy in Nigeria, some industries have continued to enjoy buoyancy due tohuge investment and growth in recent times.

The industries currently experiencing a boom in economic activities

Below are the five sectors that are have helped fuel the economy’s growth in the wake of the latest economic downturn. The selection is based on data from the Bureau of Labor Statistics (BLS) and industry perspectives.
Key Takeaways

Driving the economic growth prior to the COVID-19 pandemic was marked by expansion in healthcare, notably the growth in healthcare-related jobs.
Advances in technology, such as artificial intelligence and machine learning, have helped drive growth in other sectors.
Other sectors making notable contributions to the economy over the last decade include construction, retail, and non-durable manufacturing.

1. Healthcare

The health sector helped the U.S. recover from the 2008 financial crisis. The sector added 2.8 million jobs between 2006 and 2016, which was nearly seven times faster than the overall economy. During the ten years since 2008, the sector has grown jobs 20%, while the average rate for the economy was only 3%.1

The Bureau of Labor Statistics expects healthcare jobs to grow at an annualized rate of 18% from 2016 to 2026, much faster than the rate of the rest of the economy.2

Healthcare Management, a guide to healthcare degrees for prospective students, says there are four reasons for the booming healthcare sector. First, an increasingly aging population is creating a need for additional services. Second, chronic conditions suffered by the aging population are increasing the demand for healthcare workers.

Third, medical advances and improvements are expanding the type and number of jobs available. And finally, federal healthcare insurance reform has increased the number of people seeking routine medical care.

As a share of the nation's gross domestic product (GDP), health spending accounted for 17.7% in 2018.3 Additionally, investor interest in healthcare and biotech stocks continues.

2. Technology (digital Skills)

The tech sector is a huge component of the U.S. economy, according to Cyberstates 2019, an annual analysis of the nation’s industry published by CompTIA.4 Employment in computer and IT is projected to grow 11% from 2019 to 2029, faster than the average for all occupations.5

Demand for additional workers is stemming from cloud computing—the collection, and storage of big data and information security.6

The impact of the tech industry has affected nearly every state, and, according to Cyberstates 2019, the industry is ranked in the top five economic contributors in 23 states and in the top 10 of 28 states.7

Technology plays a role in almost all other sectors, such as healthcare, advanced manufacturing, transportation, education, and energy. The Internet of Things, artificial intelligence, machine learning, autonomous vehicles, and augmented and virtual reality are all changing society and industries.

3. Construction (machinery Operators)

Construction has been a growth industry in all areas. This includes residential and nonresidential builders, contractors, and civil engineers. According to the Bureau of Labor Statistics, construction and extraction occupations are projected to grow by 4% from 2019 to 2029, which is nearly as fast as the average for all occupations.

The growth is, in part, being driven by population growth, which is increasing demand for new buildings, roads, and other structures.8

Construction spending hit an annual rate of $1.365 trillion during 2019, according to data from the Census Bureau.
Conclussion

Getting a job that earns a respectable salary, utilizes the skills you learned either in college vocational training institute and offers a great work environment is not easy. The job market is a very small pool, and there are a lot of hungry fish out there. It is absolutely essential that you position yourself to obtain gainful employment. This will greatly aid you in becoming financially responsible