Job Market Predictions for 2014

Posted: Thu, Jan 16th, 2014 3:36:47 pm

1. The national unemployement rate will drop some, but will remain between 6.7 and 7.2 percent and labor force participation will stay between 62.5 and 63.5 percent.
2. The business climate will remain cautious, in part because of a continuing general weakness in the economy.  Businesses are also trying to understand the impact of the Affordable Care Act, which has created uncertainty that will continue to affect hiring.

3. The percentage of temporary workers in the labor force will break the previous record of 2.03%, from April 2000.  This is because of lingering business uncertainty as well as continuing long-term labor trends. 
4. Skilled workers will remain hard to find, especially skilled blue-collar workers, who are in high demand. 
5. Because of this ‘skills gap’ with trade workers, apprenticeships are coming back.  Manufacturing plants that need workers to run advanced, complex technology will get involved with local vocational schools and community colleges to help students that are not currently being trained in the right skills.
These are some of the trends to expect next year for jobs and the economy. 

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