The recent ups and downs of the U.S. stock market have all of us jittery. Much of this volatility is attributed to the growing pains of the Chinese economy as it transitions from a command economy to more of a consumption driven economy. Investors and analysts are certainly concerned about the potential consequences this may have on global growth which directly affects the earnings and hiring needs of companies here at home in the United States.
While we have no crystal ball for the future, right now our economy here in the United States is still in good shape. We are currently seeing a correction in our stock markets, yes, but it is not forecasted that this or the slowing Chinese economy will have a sustained impact on our economy. China accounts for only 1% of our exports annually.
So what kind of affect does this have on our jobs in the United States? For the time being, as analytic recruiters, we are seeing no negative impact. Jobless rates were lower in 359 out of the 387 major metropolitan areas of the United States in May 2015 vs. a year earlier. In fact, the U.S. Bureau of Labor Statistics projects that employment of statisticians will grow by 27% from 2012 to 2022. Statisticians and analysts will increasingly be needed in the face of the ever evolving financial regulatory environment and the massive amounts of data being generated by the internet.
If you are seeking a change now is still a good time to test the waters and explore your options. Individuals with CCAR/DFAST, Model Risk and Validation experience and Data Scientists are especially encouraged to reach out to analytic recruiting specialists, Smith Hanley Associates. Feel free to contact me, Sean Murphy, at [email protected] or 312-629-2400 ext. 7584 to discuss anything further.