BOSTON, Sept. 12, 2019 /PRNewswire/ -- Technology is
driving major shifts in the job market, and that will require
corporations, governments, and individuals to embrace new
strategies, according to a new report by Boston Consulting Group
(BCG) and Burning Glass Technologies, What's Trending in Jobs
and Skills, being released today.
BCG and Burning Glass, a leading provider of real-time labor
market information, studied 95 million online job listings in the
US from 2015 through 2018. The authors analyzed the number and
growth rate of job listings and skill requirements across broad
sectors and within hundreds of specific job areas, as classified by
the US Labor Department's O*NET occupation system. Through this
analysis, the report identifies the fastest-growing jobs and the
fastest-growing skills in the job market.
"No other job market study to date has been as statistically
extensive or exhaustive," says Rainer
Strack, managing director and senior partner at BCG and a
coauthor of the report. "We not only looked at the size and growth
of demand over a three-year period, but we also pinpointed the jobs
and skills that experienced the fastest growth from 2017 to
2018."
Technology Extends Its Reach
The study grouped jobs into categories based on growth rates.
"High-growth" jobs—those for which the number of listings grew more
than 40% annually during the three-year study period—included
cloud-based services (such as senior cloud engineers and Microsoft
Azure developers), enterprise automation jobs, Jira administrators,
and cybersecurity engineers. But tech wasn't the only sector
experiencing such breathless growth: listings for HR onboarding
specialists and talent coordinators rose more than 50%.
While the pace of growth for these jobs is startling, the demand
for the technologies that underlie them is far broader. For
example, in 2018 there were 14 times as many jobs calling for cloud
computing skills as there were jobs for cloud engineers, and demand
for these skills spanned occupations as diverse as software
engineers, data scientists, product managers, and business
development managers. Once-niche technologies are becoming
mainstream.
Many of the individual skills for which demand grew fastest are
linked to the widening adoption of emerging technologies, with
demand for skills in chatbots, Amazon Alexa, data lakes, and cloud
security all growing more than 40% year over year. Notably, quantum
computing, digital currency, and natural-language toolkit skills
have not only experienced average annual growth rates of more than
100% but have also seen growth accelerate even faster over the past
year.
"Technology is creating new skills and those skills are
reshaping the broader job market," says Matt Sigelman, CEO of Burning Glass Technologies
and a coauthor of the report. "Skills like machine learning and
data visualization are now showing up across the board in a range
of listings for roles such as marketing managers and business
intelligence analysts, not just in the rarified domain of tech
pioneers."
"Fast-growing" jobs, those for which growth in postings exceeded
20% in each of the three years studied, include real estate
positions, hotel clerks, interviewers, computer-controlled machine
tool operators, and (in aircraft manufacturing) structure, surface,
rigging and system assemblers. "These trends are evidence that new
technologies don't necessarily replace jobs but often spur industry
growth and job creation," says BCG's Strack.
A Spike in Personal Services—and Trucking
While the headlines emphasize AI, automation, robotics, and the
disappearance of manual jobs, not all low-tech jobs are fated to
fade away. Personal services—fitness trainers, child care workers,
and personal care aides—showed particularly healthy growth.
In addition, the report found big growth in demand in some
sectors that may be undergoing change but where the change is in
the future—such as truck drivers. Today and in the foreseeable
future, driver shortages are fueling demand. Autonomous driving
technology may mitigate the shortages but for now, demand for
human-driven trucks is explosive.
By categorizing jobs and skills according to the size and speed
of growth of listings, the report paints a more defined picture for
companies, governments, and individuals so they can plan
accordingly. Companies need to adopt corporate workforce strategies
to systematically identify and fill their talent needs before they
become critical. "Re-skilling is crucial, but that alone won't be
enough," says BCG's Strack. "Training, development, recruitment,
and strategies to attract talent when demand is truly squeezed are
critically important."
A copy of the report can be downloaded here.
To arrange an interview with one of the authors, please contact
Eric Gregoire at +1 617 850
3783 or gregoire.eric@bcg.com or Scott
Bittle at +1 617 804 1549 or sbittle@burning-glass.com.
About Boston Consulting Group
Boston Consulting Group partners with leaders in business and
society to tackle their most important challenges and capture their
greatest opportunities. BCG was the pioneer in business strategy
when it was founded in 1963. Today, we help clients with total
transformation—inspiring complex change, enabling organizations to
grow, building competitive advantage, and driving bottom-line
impact.
To succeed, organizations must blend digital and human
capabilities. Our diverse, global teams bring deep industry and
functional expertise and a range of perspectives to spark change.
BCG delivers solutions through leading-edge management consulting
along with technology and design, corporate and digital
ventures—and business purpose. We work in a uniquely collaborative
model across the firm and throughout all levels of the client
organization, generating results that allow our clients to
thrive.
About Burning Glass Technologies
Burning Glass Technologies delivers job market analytics that
empower employers, workers, and educators to make data-driven
decisions. The company's artificial intelligence technology
analyzes hundreds of millions of job postings and real-life career
transitions to provide insight into labor market patterns. This
real-time strategic intelligence offers crucial insights, such as
which jobs are most in demand, the specific skills employers need,
and the career directions that offer the highest potential for
workers. For more information, visit burning-glass.com.
View original content to download
multimedia:http://www.prnewswire.com/news-releases/study-uses-big-data-to-quantify-shifting-demand-for-jobs-and-skills-300916497.html
SOURCE Boston Consulting Group (BCG)