Jobs outlook uncertain for 2009

Many people have their hopes pinned on a new economic stimulus plan that will be spearheaded by the incoming Obama administration and is likely to focus on investments in infrastructure and green technology.

“I think the new president is going to come out swinging,” says Rob McGovern, CEO of job-search Web site Jobfox. “That’s ultimately going to result in tremendous job creation.”

But many economists believe those plans will be slow to come to fruition.

“If the federal government carries out some of the infrastructure projects by channeling money to the states for projects that are already on the drawing board, it could happen in 2009,” says Mike Knetter, dean of the Wisconsin School of Business. “If we are launching new projects and need to follow the processes typical of a government procurement contract, then it will be 2010 at best.”

But even if the economy turns around midyear, “the employment market tends to lag behind,” says Knetter, who was a senior White House economist under former presidents George H.W. Bush and Bill Clinton.

Firms will use the period of turnaround to revamp their organizational structures and boost productivity, he adds.

Feeling the pinch
Knetter is expecting a continuing soft market for finance jobs, not just in the U.S. but globally. Bright spots include the insurance sector, he says, because people always need insurance and legal service professionals, especially during periods of financial distress.

Another area that’s still showing growth is health information technology, particularly medical records management, says Adonis Phillips, regional director of career services for DeVry University in southern California.

But jobs like IT help desk positions and anything in real estate or the mortgage sector are feeling the pinch, he adds.

In most industries, employers are being cautious when it comes to hiring, says Francyenne Maynard, director of the department of career services for Dallas-based North Lake College.

“It’s not grim, but it’s definitely more challenging,” she says. Even government jobs, she adds, including city and state positions, are becoming much more competitive.

Best bets right now and throughout the year, she notes, include nursing, physician and medical assistants and pharmacy positions.

Employment seekers should not just jump at the hottest jobs, Maynard says. Many individuals are not cut out to work in the health care field, for example, which could include interacting with people who are sick and a willingness to work odd hours.

And, she adds, “What’s hot now may not be hot after you spend a year or two in school.”

People need to realize the economy is cyclical, she says. They also have to find something they’ll enjoy doing and then find ways to build up their skills.

As for asking the Magic 8-Ball about the employment outlook, the best answer right now seems to be: “Outlook not so good.”

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