FREE NEWSLETTER: Econintersect sends a nightly newsletter highlighting news events of the day, and providing a summary of new articles posted on the website. Econintersect will not sell or pass your email address to others per our privacy policy. You can cancel this subscription at any time by selecting the unsubscribing link in the footer of each email.

posted on 29 July 2015

Is It Time To Switch Industries? 5 Under-the-Radar Industries To Consider.

by Challenger Gray and Christmas

A new survey shows that, on average, three in ten job seekers finding employment in the first half of 2015 changed industries. While that was down slightly from a year ago, the fact that nearly one-third of successful job seekers switched industries indicates that this is a viable strategy for those who continue to seek employment.

Between January 1 and June 30, an average of 29.9 percent of those finding new positions changed industries, according to a survey by global outplacement and executive coaching firm Challenger, Gray & Christmas, Inc. The quarterly survey is conducted among approximately 1,000 successful job seekers, representing a broad range of occupations and industries across the country.

The industry-switching rate in the first half of 2015 was down about three percentage points from the same period a year ago, when an average of 32.7 percent of job winners changed industries. Said John A. Challenger, chief executive officer of Challenger, Gray & Christmas.

The key to a successful job search is casting the widest net possible. That means searching beyond the help wanted ads, looking outside of your local job market, and searching for opportunities in industries other than the one in which you were previously employed.

This recovery in particular has seen certain industries expand more quickly than others. Furthermore, we are reaching a point in our economy when certain industries are going through significant changes, and in many cases, simply are not producing as many jobs as in the past. This means that job seekers have to get more creative and think outside the box when it comes to selling their skills in industries where they might not have experience.

The pharmaceutical sector is a prime example of an industry in flux. While demand for new drugs remains strong, mergers, government regulations and the internet have dramatically changed the way companies get their latest drugs into the market. As a result, the armies of pharmaceutical sales reps that were once typical have shrunk by nearly 40 percent since 2005. Challenger advised:

If you are a sales rep in the pharmaceutical industry, you can still find well-paying jobs. However, the opportunities have significantly declined and are likely to continue to do so in the future. So, if you are a job seeker in this industry, it may be wise to seek opportunities in closely related industries such as medical devices or biotech, or leave the health care industry entirely.

Too many job seekers believe that working for a long time in a specific industry means that they must remain there even though the outlook is bleak for getting a new job. That is a self-imposed limitation which tends to consign the person to a sometimes depleted job market.

While job seekers can attempt to transfer their skills into well-established industries that may be burgeoning, others may want to go a more unconventional route. Challenger experts offer these under-the-radar industries for consideration.


Craft Anything

Artisan cheeses, craft beer, craft Bourbon, etc., are growing in popularity and the number of producers of these goods are expanding rapidly. Approximately 1,250 craft breweries opened between 2009 and 2014, according to one estimate. The number of cheese-making establishments increased by 13 percent between 2007 and 2012, according to the Census Bureau. You don't necessarily need special knowledge about making these products. In addition to the people who create the products, all of these newcomers to the burgeoning "craft" industry need IT people, accountants, marketing and sales professionals, logistics and operations managers, as well as numerous other support workers.

The Internet of Things

There has been talk of internet-connected refrigerators, cars and security systems for many years, but the technology and accessibility appear to hitting critical mass and adoption is beginning to soar even among the least tech-savvy consumers. This is opening up a growing industry of companies developing, marketing and supporting new applications for an expanding universe of internet-connected goods. While tech professionals will be the biggest beneficiaries of this explosion of connectedness, firms will continue to need administrators, marketing professionals, sales representatives, public relations, etc.

Legalization Nation

Four states (Colorado, Alaska, Oregon and Washington) and the District of Columbia have legalized recreational use of marijuana. Several others have decriminalized it and dozens allow for the medicinal use of the drug. Several states are exploring full legalization. Regardless of where you stand on the policy, the fact is the rapidly changing laws are opening myriad employment opportunities for those wanting to get in on the ground floor of a growth industry. From legal growing operations to retail and every step in between, companies and businesses are looking for manpower.

Re-educated Education

There will always be a need for qualified and inspiring educators and administrators. However, one need not limit his search to traditional school districts or even charter schools. In every state across the country, it is possible to find examples of individuals and organizations trying to break the mold of an education system that no longer appears to be working to its fullest potential. From pre-school through the highest level of education, there are growing opportunities to teach in new ways. While much of the growth is in online coursework, ranging from the free-to-all-users Kahn Academy to the low-cost-anywhere-anytime model of Udemy, there are also a growing number of face-to-face education opportunities that exist outside of the norm, such as private tutoring providers and home-school environments. Furthermore, education jobs are not by any means limited to teachers. As education becomes more technology-dependent, it opens up opportunities for consultants, software designers, curriculum developers and even game designers.

The Odd-Job Industry

If you need a ride to the airport, you can now use Uber or Lyft. If you need someone to build that new Ikea bed, you can find someone through Amazon's Handy app. If you need a place to stay for a week in New York, you can use AirBnB to arrange to stay in someone's home. Over the last five years, there has been steady growth in services designed to connect consumers with independent providers of goods and services, both on a national and local level. While some might make a decent living as a provider of these goods and services, the best opportunities are likely to find in connecting users and providers. These services need people to vet and manage the contractors, develop apps and provide support.

Click here for Historical News Post Listing

Make a Comment

Econintersect wants your comments, data and opinion on the articles posted.  As the internet is a "war zone" of trolls, hackers and spammers - Econintersect must balance its defences against ease of commenting.  We have joined with Livefyre to manage our comment streams.

To comment, using Livefyre just click the "Sign In" button at the top-left corner of the comment box below. You can create a commenting account using your favorite social network such as Twitter, Facebook, Google+, LinkedIn or Open ID - or open a Livefyre account using your email address.

You can also comment using Facebook directly using he comment block below.

Econintersect Contributors


Print this page or create a PDF file of this page
Print Friendly and PDF

The growing use of ad blocking software is creating a shortfall in covering our fixed expenses. Please consider a donation to Econintersect to allow continuing output of quality and balanced financial and economic news and analysis.

Take a look at what is going on inside of
Main Home
Analysis Blog
Rising Tide Does Not Lift All Ships
Comments on Feyerabend’s ‘Against Method’, Part II
News Blog
New Seasonal Outlook Updates from NOAA and JAMSTEC - Let's Compare Them.
Infographic Of The Day: Driving Into A Battery Powered Future
Earthquake Risk - Location Matters
Investor Alert: Be On The Lookout For Investment Scams Related To Hurricane Matthew
Lost In Translation: Five Common English Phrases You May Be Using Incorrectly
The Size And Scope Of Samsung's Business
Immigration Is The Top Worry For Britons
People Killed By Russian Airstrikes In Syria
Have You Taken These 4 Simple Steps To Improve Your Trading?
14 October 2016: ECRI's WLI Growth Index Insignificantly Declines
Mom Breaks Down In Tears When Son With Autism Meets Service Dog
Rail Week Ending 15 October 2016 Paints A Negative Economic View
What Is The New Normal For U.S. Growth?
Investing Blog
FinTech Is Taking A Bite Out Of Banks
Options Early Assignment - Should You Worry?
Opinion Blog
US 2016 Election: Will US-China Relations Change
Prop. 51 Versus A State-Owned Bank: How California Can Save $10 Billion On A $9 Billion Loan
Precious Metals Blog
How Will The Election Outcome Impact Precious Metals?
Live Markets
21Oct2016 Market Close: Major US Indexes Close Flat On Low Volume, Crude Prices Resume Climb, US Dollar Stabilizes In Mid 98 Handle, Yes, Most Investors Are Worried Which Way This Market Will Go
Amazon Books & More

.... and keep up with economic news using our dynamic economic newspapers with the largest international coverage on the internet
Asia / Pacific
Middle East / Africa
USA Government

Crowdfunding ....



Analysis Blog
News Blog
Investing Blog
Opinion Blog
Precious Metals Blog
Markets Blog
Video of the Day


Asia / Pacific
Middle East / Africa
USA Government

RSS Feeds / Social Media

Combined Econintersect Feed

Free Newsletter

Marketplace - Books & More

Economic Forecast

Content Contribution



  Top Economics Site Contributor TalkMarkets Contributor Finance Blogs Free PageRank Checker Active Search Results Google+

This Web Page by Steven Hansen ---- Copyright 2010 - 2016 Econintersect LLC - all rights reserved