Oftentimes, we read reports of careers to consider when looking for job security, but rarely do we note the ones to consider avoiding. In today’s uncertain job market, it would behoove you to think twice if you’re looking to enter into the following industries. The list, compiled by The Washington Post, considers several factors, including the current state of the economy, industry trends and technological advances. Interested in learning more? Continue reading below.
Oil and gas
Fluctuations in oil prices have long made the oil and gas industry prone to boom-and-bust cycles, which has made it too unstable to sustain job security. Between 2015-2019, the Bureau of Labor Statistics states that the industry’s workforce has decreased by 28%, leaving experts to believe that job security in oil and gas will remain weak in years to come.
“Even though worldwide demand is expected to grow in the short term, the increasing focus on renewable energy sources and environmental concerns has and will continue to result in a decreased demand for fossil fuels,” the report reads. “The attempt to shift away from oil and gas further impacts the job security of workers within the industry.”
The technological boom has hit the retail industry the hardest in recent years, with more and more customers opting to shop online. Furthermore, brick-and-mortar companies have seen a significant downturn with store closures and job losses affecting the industry at an accelerating pace.
“Retail trade is projected to decline by almost 587,000 jobs between 2020 and 2030. In terms of long-term job security, those numbers are discouraging,” the report reads.
Outsourcing and automation have hit the manufacturing industry, impacting almost 20 million workers over the span of 40 years. There are several indicators to note: the ongoing pandemic, the trade war with China and Russia’s invasion of Ukraine has caused the industry to see serious decline with no sign of stability in sight.
“Additionally, as companies increasingly rely on technology to streamline production and reduce costs, many traditional manufacturing jobs are being replaced by automation and robotics,” the report states. “If you’re looking for job security, it’s probably best to look somewhere else.”
The journalism industry has always been known to be one of the least stable industries to consider due to constant changes in ownership, mergers and acquisitions. But over the past several years, the industry has seen a significant decline of a 26% loss in the workforce between 2008-2020. This decline was only heightened with social media and AI, including the newly-introduced Chat GPT.
Furthermore, “the prevalence of ‘fake news’ have negatively impacted the journalism industry, making it increasingly difficult for journalists to find stable employment,” the report reads.
While these industries have hit a downturn, there is still hope if your passion lies in one of these four industries. “It just might be a little more stressful than other, more secure, career paths,” the report concludes.