As the calendar turns to 2017, many Americans will be looking for a fresh start in finding a new or better job. With that in mind, analysts at WalletHub conducted a study to determine the best job markets in the U.S. and they consulted a panel of experts for context of what job growth will look like in the new year.
Christine Yee, an assistant professor of economics, spoke with WalletHub and addressed a number of issues including her prediction for the job market in 2017, the impact the new administration’s policies will have on job growth, the fields that are expected to grow most in the coming decades, the biggest challenges facing job seekers today, and the most common mistakes job seekers make when seeking employment.
Yee described how public spending contributes to slightly more than one-third of GDP. With the incoming Trump administration, she shared her thoughts on how specific sectors of the economy could perform in the new administration.
“Given the current discussion about potential policies under the new administration, spending on defense and infrastructure is expected to increase, which would increase the number of jobs in those sectors. However, the growth in healthcare spending is expected to slow down, which would in turn reduce the number of additional jobs in that sector,” she argued.
Looking at the future of the American economy, Yee predicted that healthcare, energy, artificial intelligence, and transportation will be the fields that grow the most in the coming decades.
As many people in the workforce look for new jobs during the new year, Yee offered advice for job seekers in a competitive economy.
“We all need to have the right skill set to be competitive in a global and changing economy, and we need to adapt to new technology and workflows,” she said. “Employees and employers alike need to understand how they can bring value to their customers.”
Read the full article “2017’s Best and Worst Cities for Jobs” on the WalletHub website.
Professor Yee has research interests in health economics, public policy, applied econometrics, and labor economics. Read more about her work on the economics department website.
Image: Christine Yee speaks during a Dresher Center “CAHSS Micro Talks” event at UMBC. Photo by Marlayna Demond ’11 for UMBC.