Sushil Srivastava, CPIM, CSCP, PMP, CISA, CDPSE’s Post

"Older workers looking for new jobs have reasons to be optimistic about 2024. Entering the year, the unemployment rate nationwide continues to be very low, measuring 3.7 percent at the end of November for people of all ages and 2.9 percent for people 55 and older. Those low numbers mean businesses will have to compete harder to hire and keep workers, which often translates into higher salaries, more flexibility and better benefits. To identify which jobs will see the most demand for workers in 2024, AARP looked at U.S. Bureau of Labor Statistics (BLS) projections on the prospects for various careers from now until 2032 to see which fields appear to offer promising opportunities for older workers. The analysis found a range of professions suitable for different types of work experience. Overall, jobs related to online shopping — from website design to package delivery — earned the most spots on this list." https://lnkd.in/g7Kbec92

20 Jobs That Will Be in Demand in 2024 A recent article on AARP’s website indicates that older workers can expect a robust hiring climate this year. Click here to read about the “in-demand” jobs: https://lnkd.in/eHhg8RCF

Understanding the Gap Right now, the labor force participation rate is 62.7%, down from 63.3% in February 2020 and 67.2% in January 2001. There's not just one reason that workers are sitting out, but several factors have come together to cause the ongoing shortage. Factors Contributing to the Labor Shortage Early retirements and an aging workforce As of October 2021, the pandemic drove more than 3 million adults into early retirement. In all, the number of adults 55 and older being detached from the labor force due to retirement grew from 48.1% in Q3 of 2019 to 50.3% in Q3 2021. Additionally, the share of older individuals within the U.S. population is steadily increasing, and it’s likely this trend will continue. This shift is partly attributable to the fact that younger generations are having fewer children compared to their predecessors, resulting in a progressively older and diminishing population.  Read more here: https://lnkd.in/eZY7Z_-B

https://lnkd.in/e7Z92996 All of this speculation about labor market trends and no consideration of the caregiver employee conflicts that are impacting shortages! I just don't get the single mindedness. Then there is the conflict between whether older adults will stay in the work force or retire. That choice is better than forced retirement, even if it is a result of labor shortages. My guess is that we will see Millenials and "Zoomers" bridging many gaps, and older people continuing to work primarily as a result of financial necessity or desire to work part-time. Perhaps we should be incentivizing less popular positions, e.g. health related, and offering mentoring for senior management, as stated in this report. How about offering more apprenticeships in the trades? Apparently, many businesses will not be sustainable without focusing on recruitment and training. Clearly this trend will also impact other sectors; and, probably immigration reform, in the interest of filling jobs that Americans don't want to do, e.g. caregiving. Of course, immigration might be a remedy for the caregiver employee crisis so I would expect some movement there eventually. That would also help to mitigate the burden on employees. But we can't even pass aid for Ukraine and a bipartisan border control policy. 🤔 I do go on; but, in conclusion, we need to be more proactive. Have a good Sunday. Spring is on its way. #newagingpartnership #caregivingconfidential #labormarket #retirement

🔍 Reasons for the American Labor Shortage? 🔍 Ever wonder why so many jobs are unfilled? Here are a few points driving the U.S. labor shortage: Early Retirements 📉: Over 3 million people retired early during COVID, shrinking the workforce. Reduced Immigration 🌎: Net immigration is down by about 1 million since 2016. Childcare Challenges 👶: Lack of affordable childcare keeps many parents from working. Entrepreneurial Shift 💼: More than 10 million new businesses started in 2020-2021, drawing people out of the traditional workforce. Its an interesting shift, Want to discuss solutions? #LaborShortage #Recruiting #TalentAcquisition #WorkforceTrends #Hiring

U.S. Bureau of Labor Statistics data shows that older executives face longer job search periods and higher unemployment rates than their younger counterparts. Specifically, 36.1% of workers aged 55 and older were classified as long-term unemployed, unable to secure a job within 27 weeks or more. According to Executive Career Brand, older executives who are transitioning can overcome age discrimination and thrive in Career Ownership, sometimes exceed their previous income levels. Are you contemplating a change? Let's connect! https://lnkd.in/gGn276CD #CareerDevelopment #WorkplaceTrends #CareerOwnershipCoaching #WhiteCollarRecession #YourCareerRevolution

11 million people of working age are not in work....... This week the ONS have released their April Labour Market report. Links>comments. Not good. A steep fall in employment and a sharp rise in those out of work, including an unexpected rise in unemployment. Digging through so you don't have to. Not enough people out of work are looking for jobs, rather than people who are looking for jobs can’t find them. The weak labour market is holding back economic growth, not the other way round. Highlights: -UK employers are still trying to fill 916,000 vacancies -Economic inactivity has risen to its highest level since 2015. So higher than the depths of the pandemic. Insane. -Economic inactvity basically means someone who isn't involved in the working world. -More people than ever aren't looking for a job due to ill health (2.8 million). NHS waiting list at record high. Tories targeting people too sick to work. -Student numbers have played a part in the increased from Q4 -All whilst there has been a worrying increase in the number of people who don’t want a job. So as a business owner or hiring manager what does this mean for you? - Overall there are nearly a million fewer people in the labour force than there were four years ago. -The labour market is still a challenge, you must be thinking one step ahead. -Do you have your brand position, employer attractiveness, business succession planning -Not much evidence that the government's drive to reduce 'economic inactivity' is going very well. This year is going to be another slog, the companies who are working hard on their brand and recruitment process will hire the best people. ____________________________________________________________ 📍 Based in Northampton 🧙♂️ My name is Matthew 📈 Business owners use the time I save them to play golf and eat sushi 🤖 No robots were harmed in the creation of this post 🖱 Click the link in the comments to see our live jobs

What is Old or rather Who is New Again....Literally! "Older workers are bringing a whole different layer of experience - a savvy ability to problem-solve-that when you mix it with younger brackets, it produces a high amount of output." Yet, "many older workers don't feel supported in their growth once they reach the age society deems graying." What is happening in your workforce and at your Company? Who are you hiring? #workforce #DEI #employment

Abbott & Costello discuss how the Gov't counts unemployment numbers -- by Larry Levin: COSTELLO: I want to talk about the unemployment rate in America. ABBOTT: Good Subject. Terrible Times. It's 9%. COSTELLO: That many people are out of work? ABBOTT: No, that's 16%. COSTELLO: You just said 9%. ABBOTT: 9% Unemployed. COSTELLO: Right 9% out of work. ABBOTT: No, that's 16%. COSTELLO: Okay, so it's 16% unemployed. ABBOTT: No, that's 9%... COSTELLO: WAIT A MINUTE. Is it 9% or 16%? ABBOTT: 9% are unemployed. 16% are out of work. COSTELLO: If you are out of work you are unemployed. ABBOTT: No, you can't count the "Out of Work" as the unemployed. You have to look for work to be unemployed. COSTELLO: BUT THEY ARE OUT OF WORK!!! ABBOTT: No, you miss my point. COSTELLO: What point? ABBOTT: Someone who doesn't look for work can't be counted with those who look for work. It wouldn't be fair. COSTELLO: To whom? ABBOTT: The unemployed. COSTELLO: But they are ALL out of work. ABBOTT: No, the unemployed are actively looking for work... Those who are out of work stopped looking. They gave up. And, if you give up, you are no longer in the ranks of the unemployed. COSTELLO: So if you're off the unemployment roles, that would count as less unemployment? ABBOTT: Unemployment would go down. Absolutely! COSTELLO: The unemployment just goes down because you don't look for work? ABBOTT: Absolutely it goes down. That's how you get to 9%. Otherwise, it would be 16%. You don't want to read about 16% unemployment do ya? COSTELLO: That would be frightening. ABBOTT: Absolutely. COSTELLO: Wait, I got a question for you. That means there are two ways to bring down the unemployment number? ABBOTT: Two ways is correct. COSTELLO: Unemployment can go down if someone gets a job? ABBOTT: Correct. COSTELLO: And unemployment can also go down if you stop looking for a job? ABBOTT: Bingo. COSTELLO: So there are two ways to bring unemployment down, and the easier of the two is to just stop looking for work. ABBOTT: Now you're thinking like an economist. COSTELLO: I don't even know what the hell I just said! >>> And now you know why the unemployment numbers are just fabricated lies! #unemployment #BLS #employed #fake #lies #numbers

"The gap between #jobgrowth in the establishment survey and employment growth in the household survey over the last year now stands at 1,149,000...While the #unemployment rate for workers with just a high school degree or some college edged down slightly, the unemployment rate for college grads edged up by 0.1 pp. However, more striking than this rise in employment was a drop of 0.7 pp in the employment to population ratio for college grads to 70.5 percent...The health care sector added 66,700 jobs, accounting for almost a quarter of the month’s job growth...The government sector was a big job gainer, adding 52,000 jobs. Construction continued to have healthy job gains, adding 23,000 jobs." https://lnkd.in/eZjVz-3y