BE INDUSTRIAL/SERVICE 100 list with $204.2 million in sales).
“Temps are not just secretaries. Managers, credit analysts, and paralegals all temp to test out a new industry without making a formal commitment,” explains Patricia Troy, president and CEO of Advanced Staffing Inc. in New Castle, Delaware. “Besides, after a recession the staffing industry is one of the first to rebound from any slowdown we may encounter,” she adds.
For those thinking about changing careers, temping might be the answer. “Even if it is outside of your current field, the skills are transferable,” adds Troy.
Security encompasses many fields, from guard and investigative services to technology to biotech. Employment of guards is expected to increase 21% to 35% by 2008. Those with advanced training and knowledge of technology will be in high demand from security firms, corporations, and government agencies, in light of the increased emphasis on antiterrorism and corporate data security.
“[As for training], the government is aging, so it is bound to start hiring people. That will be an excellent arena in which
to start receiving essential training that [you] can take into the private sector,” says Lewis.
MANAGING YOUR MONEY
Following the September 11 terrorist attacks, American investors pulled $29.5 billion out of the stock market, reports the Investment Company Institute in Washington, D.C. Despite that, brokers and financial planners will be in demand, according to BLS statistics.
“We need to soothe investors’ nerves,” explains Joyce Muse, a certified financial planner and broker in Oakland, California. “One way we’re succeeding is by making attractive portfolios that offer a more defensive position; we definitely do not want our investors to take their money out of the market and hide it under a mattress.”
Although the industry has taken a hit due to the economic downturn as well as the events of September 11 (particularly in New York City), Wall Street is calling up another quarter million brokers who are currently studying to pass the General Securities Registered Representative Examination (Series 7 exam), the standard test that licenses stocks and commodities brokers.
While there are several factors affecting the securities industry (competitive climate, large firms downsizing, increased dependence of consumers to buy and sell stocks over the Internet), a renewed increase in investing will spur employment in the industry. Why? Consumers will still need the advice and service of qualified professionals, particularly when the economy seems bleak.
Additionally, although many consumers and businesses have become more savvy about their finances, investment products have become more plentiful and more complex. Add in the increased interest in global markets and the introduction to products that aren’t available online and you have a field that should expand significantly beyond the current 303,000 employment estimate from the BLS.
HANDLING THE TRUTH
So what is the truth? In this economy, there are several truths. The truth is that although the economy appears bleak, and jobs seem scarce, over the next six years, 5.8 million employment opportunities will be open in several fields nationwide. The truth is, this is as good a time as any to start preparing