Job Market Trends 2010

The year 2009 was extremely tough and it changed the job market dramatically. The financial crisis hit the businesses painfully and the layoffs reached record levels soon across the world. The US was leading and Europe quickly followed the trend. The job market changed completely, the war for talents was stopped for several months and the organizations realized the redundancies to cut the payroll quickly and sharply. Many of us were unlucky as their job was not seen as enough value added to the companies and we were redundant. The year 2010 will be about the ongoing changes in organization to make them ready for the economic growth. The job market will not change much and there will be a lot of unemployed people with no optimistic view of their future. It is extremely hard to predict the job market trends for 2010, but we can see some signs.

The job market will be hit by the following trends in 2010 (and it will hit our lives as well):

1. Continuous cost cutting and shaping the product lines
2. Grabbing the market share by aggressive market players
3. Shifting to value added product lines

The continuous cost-cutting will be the most painful component hitting the job market in 2010. Many highly skilled jobs in the Western World are focused on the investments and the companies are worried to invest in the current circumstances, when the economic environment is not easily predictable and there is still a problem to get the financing. In 2010 we will see a lot of architects looking for the job as the construction is almost stopped at the moment. The highly skilled and highly specialized professions will be in a huge danger and this will not improve through 2010.

In 2010 many of us will change the name of the employer without moving our chair into a different office. The current recession is a great opportunity for many companies to buy its competitors and to become even bigger. It will be the second huge trend on the job market in 2010. It will bring many redundancies as the companies will optimize its processes and product lines. We have to keep ourselves positive as the highly performing employees have the biggest chance to stay with the new employer.

The massive shift to new product lines with the value added will be the next trend affecting the job market in 2010. The companies will re-evaluate the past decisions and the market will be moving and the employees as well. New employees will be needed and some people will be redundant. There is nobody with the job security today. All jobs are in a danger as the companies will be slimmer, using less employees and with more efficient internal processes. The best chance to keep the employment is a constant self-education and bringing small innovations into the daily business life.

The year 2010 should not be about the massive increase of the unemployment, but the economy will be weak and it will not generate many job opportunities. The people will have to work on gaining new skills and competencies as the companies will be choosing the best of the bests. The job market trends is about shifting the power from the job applicant to the employer again.

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