In his first address to Congress, President Barack Obama put his top priority for America's beleaguered workers in simple terms: Now is the time to jump-start job creation.
The work of reversing the labor economy's slide will not be so simple. The American Recovery and Reinvestment Act seeks to bring timely relief to 11.6 million unemployed Americans and 734,000 discouraged workers -- so called by the Bureau of Labor statistics because they have given up looking.
The jobs created by the Recovery Act will make a world of difference in the lives of millions, even though it can't put everyone back to work tomorrow.
"The approximately 3.5 million jobs created or saved will reflect the current distribution of jobs across the economy," touching all industries, said Heidi Shierholz, an economist at the Economic Policy Institute.
Due to the severity of the recession, that's not going to fill in the employment gap entirely, she says. About 3.6 million jobs have already been lost in the recession that began December 2007, according to a February 2009 BLS report, and no one expects the losses to stop anytime soon.
Four strategic sectors will receive money targeted for job creation, either directly or indirectly, according to a report by Obama administration officials:
- Energy (459,000 jobs)
- Infrastructure (377,000)
- Education (250,000)
- Health care (244,000)
And the broader stimulus created by government work, recession relief and tax relief is projected to create even greater numbers of jobs across the economy.
Alternative Energy Jobs Get a Jolt
The stimulus package calls for unprecedented spending on clean energy, including $60 billion in loan guarantees for alternative energy projects such as wind turbines and coal gasification.
The money is sorely needed, because the green sector has been especially hit hard in the downturn. Since November, hiring has been in a lockdown, says Doug Scott, regional managing director for the Mergis Group, a recruitment firm. "It's starting to improve, because companies who have the money to make a play are now doing so," he said.
Engineers and tradespeople should see demand for their services rise when federal funding reaches their prospective employers. "Electrical, electronic and mechanical engineers will transfer their skills the quickest to alternative energy, to work on solar panels and wind turbines, for example," Scott said. "Technical salespeople will be needed, as will skilled tradespeople to work in installation, infrastructure and field service."
Construction and Infrastructure Win Major Support
"Job growth from the stimulus will be heavier in industries that have been hit harder," Shierholz said. "Those industries have the most opportunity for [a] bounce-back."
Construction, with its free-falling housing sector, desperately needs that bounce. So hardhats and their co-workers should be somewhat reassured to see that Recovery Act infrastructure spending will be measured in the hundreds of billions of dollars, and so-called, shovel-ready projects will receive funding as soon as this spring. For example, the infrastructure stimulus will include billions of dollars for public transit, encompassing projects ranging from railway repairs to the purchase of hybrid buses.
Education Gets into the Rebuilding Act
Recovery Act funding for education is projected to create or save hundreds of thousands of jobs, from teaching positions to bricklayers. This may give school officials across the country a breather as they struggle to balance budgets while state and local funding dwindles.
Education spending will include a variety of initiatives, from billions of dollars in school repairs to additional millions for programs for students with learning disabilities.
Health Care Gets a Shot in the Arm
The stimulus package includes many billions of dollars for health care, including $21 billion for health-care information systems and technology.
The new administration will emphasize capturing information to better deliver pharmaceuticals and health-care services, says Jason Hersh, managing partner of Klein Hersh International. "Professionals in medical informatics will be in demand over the coming years. Job seekers who are looking to transition skill sets into this environment should look into health-care IT [information technology]," he said.
Millions More Jobs to Be Added Across the Economy
Beyond the four strategic sectors, some 2.3 million jobs are projected via other components of the stimulus package, such as extensions of unemployment benefits, aid to states and tax cuts. These jobs will be born in diverse industries, including retail, leisure and hospitality, manufacturing, professional and business services, government, financial, wholesale trade, transportation and warehousing, IT and services, mining and utilities.
Employment in these areas will likely come online sooner than jobs created in the strategic sectors. "Because it takes time to carry out new spending programs authorized by legislation, we expect the jobs created by spending on infrastructure, education, health and energy to be concentrated in 2010 and 2011," rather than this year, the administration report notes.
Even given this jobs-building program of historic proportions, the rising tide of unemployment is unlikely to reverse itself in the near term. "If we can start adding net jobs in early 2010, we can say the stimulus did its job," Shierholz said.
Get Ready to Land a Stimulus Job
Whether you are hoping to find a job in one of the four strategic sectors -- energy, education, infrastructure, health care -- or one that is indirectly created by the stimulus package, you can take action right now to be ready to stand out as the jobs are posted.
- Research: Narrowing in on the types of jobs you want and are most qualified for will help you keep your job search on task. Learn about different jobs and get insiders' perspectives on what it is like to work in these fields. This can also help you identify any skills gaps you may have so you can seek the appropriate training.
- Update Your Resume: Now that you have some potential career goals in mind, you need to make sure your resume will get you there. Be sure your resume is ready to go with your most updated skills and accomplishments, and consider customizing your resume to the different jobs for which you plan to apply.
- Keep an Eye on Jobs: As the stimulus begins to have its impact on the economy, the job postings will trickle in. Set up saved job searches now for your target jobs so that Monster can notify you as they are posted.
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