PROVIDENCE, RI / ACCESSWIRE / July 12, 2021 / Browning Associates Reviews: According to John Seraichyk, Founder Browning Associates, an executive career consulting firm in Providence, Rhode Island, the executive job market is improving.
According to the Bureau of Labor Statistics (BLS), employers Added 850,000 Jobs in June. The highest gains came in leisure and hospitality, retail, and educational services as the job market continues to recover from its pandemic slumps.
According to John Seraichyk, CEO of Browning Associates, this is good news for senior management and senior executives seeking new employment. As employers continue to add jobs, certainly the likely manifestation would be a greater need for experienced, tenured executives to manage these growing workforce segments.
Seraichyk says, the number of new positions added according to BLS is much lower than what indeed may be actually available as employers are finding it problematic to hire/employ workers, due to health fears associated with COVID-19, lack of available childcare, wages that are not attractive and a hefty retirement of baby boomers in 2020.
According to (BLS) the Overall employment of top executives is projected to grow 4 percent from 2019 to 2029, about as fast as the average for all occupations. Projected employment growth varies by discipline. Although considering the unforeseen pandemic, this data may be skewed plus or minus. However, the employment of general and operations managers is projected to grow 6 percent from 2019 to 2029, faster than the average for all occupations. Organizations will continue to rely on these professionals and executives to help them operate successfully.
The BLS similarly reports Approximately 218,300 openings for top executives are projected each year, on average, over the decade. The high pay and prestige associated with these positions attract many qualified applicants. In addition to those arising from growth, openings are also expected to result from the need to replace workers who transfer to different occupations or exit the labor force, such as to retire, which, as stated herein-above, is on the rise due to Baby Boomers beginning to reach retirement age.
According to Gallup, ‘Americans are much more positive about the U.S. job market than they were a year ago when people in most states were living under stay-at-home orders as the coronavirus spread throughout the country. The percentage who say it is ‘a good time to find a quality job’ is up more than 20 points, and far fewer employed Americans today than in 2020 say it is likely they will lose their job. While both measures show dramatic improvement, neither had returned to the levels Gallup measured before the pandemic began.’
Overall, John Seraichyk, CEO of Browning Associates, says the executive job market is in great shape and will continue to recover as COVID-19 finds its way out of our midst and into the history books.
SOURCE: Browning Associates
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