Securing Stability
When exploring career options, it’s important that you consider the success and future of the industry in which you are looking to enter. If you dive into a career field that is in a steep decline, your job might not be guaranteed within the next five years. Luckily, you have labor market information available at your fingertips to help you decipher which career fields are thriving, and which industries are on the decline.
Labor Market Information within the Arkansas Division of Workforce Services has plenty of publications available for free that can help you distinguish a thriving industry from one in decline.
Projected Employment Opportunities List
Long-term and Short-term state and local area projections
Labor Market and Economic Report
In addition to these publications, take a look the tool below that Labor Market Information has available that can help you spot successful industries that can help you when searching for your career.
Along with spotting performance throughout the various career fields, it is also important to look at specific companies to see how they are performing.
How do you identify a more stable and profitable company?
- Review their stock prices as far back as three years. Has the stock price increased steadily, or has it declined? Has the company consistently been paying a dividend every quarter? Take a look at stock performances for the company’s competitors as well to see how they stack up.
- Talk to a current employee of the company, and ask about the workplace environment, pay raise schedule, promotion opportunities, employee benefits, retirement, and employee turnover rate.
- Look at the company website and read their mission statement. What does it say about their business philosophy? Is this company involved in the community? Glance at any jobs they may have posted.
- Ask your local Arkansas Workforce Center how often the company recruits additional employees.
Once you are able to get a good read on your desired industry’s future outlook, stability, and profitability, you will be set up for success in your future career.
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