How Safe Is Your Job?
Consumers demand lower prices; investors demand higher profits. And under this pressure from both sides, businesses are increasingly required to cut costs. So while American workers may be among the most productive in the world, a foreign worker, with the same skills as his or her American counterpart, comes at a fraction of the cost.
However, labor costs have risen in China and elsewhere in recent years. Plus, despite what seems like simple math—cheaper labor means more profits!—companies are finding that outsourcing is actually an incredibly complex process, with hidden costs and inherent risks.
Is Outsourcing a Concern in My Chosen Field?
As their anticipated benefits and profits fail to materialize, some American companies are beginning to bring jobs back to the U.S.1, particularly in the information technology field. Previously one of the hardest-hit industries in the outsourcing rush, the information technology field is experiencing an upsurge in domestic job creation—making computer science one of the more increasingly stable, rapidly growing occupations.2
As a rapidly advancing, dynamic industry, information technology requires experienced, well-educated employees. An information technology associate’s degree can get your foot in the door of a business where your talent, education, and dedication is valued, and your job is more likely to remain secure.
Some jobs, however, have never left—and are highly unlikely to. The healthcare field requires on-site professionals to deliver high-quality, patient-centered care. There’s a reason that the healthcare field is one of the Bureau of Labor Statistics’ fastest-growing, well-paying occupational industries, particularly for those with healthcare or gerontology training. A healthcare degree is a valuable asset when considering pursuing a stable, long-term career.
As the U.S. unemployment rate hovers just over 4 percent in 2017,4 the pace of our economic growth is slow yet steady. Taking the stability of any specific industry into consideration when deciding on starting a new career is definitely one of the smartest moves you can make.