Here are some interesting driving factors for US jobs growth in 2012, each of these factors can create significant new jobs for the US.
The Green Economy is growing faster than expected
The green economy is actually growing at very fast rate; in fact, it is probably the fastest growing industry in the United States at moment. More importantly, they are not just creating jobs for technical professionals like environmental engineers, but they are creating much more positions like sales and marketing, education & training, online and also helping US’s exports.
Key growths are likely to be in the solar, wind, biofuel as well as environmental services and engineering sectors. The environmental engineering sector is showing very strong growth in employments at moment with almost every company we have researched is recruiting new staff.
This will be very encouraging industry as more technologies are commercialized, are already expecting new technologies to be rolled out this year relating to electric cars, new batteries, waste management facilities and new water management technologies. It will be another exciting year for those pursuing “Green Career”.
US Exports continues to grow at faster rate
This has been a shining spot in the US economy for many years, but the media never took much notice about it. The growth is a combination of factors, weakness in USD is one factor, and also very strong demand from emerging economies including Middle East, North Africa and South America is another major factor. Growing demand for US goods and services from China is another stimulating factor for US’s export growth.
US should be able to maintain the current growth throughout 2012; this is approximately around 20% growth each year, which has been the fastest growth rate for many decades. Growing US exports is creating enormous job opportunities for various US industries such as aviation, aerospace, automotives, agriculture, equipment, food & beverage and high tech industries.
For job seekers, it is a good idea to focus on sectors that are showing the strongest growth in exports.
Good weather conditions boosting agricultural sectors
The US agriculture industry had a good year in 2011. The growth was due to better weather conditions, less natural disasters, strong demand for commodities in global markets and strong demand for biofuel.
2012 can be another record-breaking year as long as there are no adverse factors such as bad weather or natural disasters. Demand for US soft commodities remain very high, and growing at the fastest rate ever; for example, Mexico is facing a shortage of potatoes and is likely to start importing them from US.
Asian markets need a variety of products ranging from ginseng to rice, which are all grown in the US. Rising demand for organic food will be another positive factor for the US agriculture industry.
Other industries will also benefit as well especially the equipment manufacturers as more crops are required.
Resurgence of Michigan from automotives and engineering industries
Michigan was the one of the hardest states during the recession, and it is also likely the state that can recover strongly in the medium term. There have been positive developments in the Michigan economy.
Electric cars and hybrid cars could be the turning point for the Michigan economy as new factories are being set-up in Michigan for new productions. We saw a number of new companies setting up operations in Michigan in 2011 including a number of German engineering firms and numerous automotives technology companies like car battery, recharging facilities and engine makers. This trend is likely to continue in 2012, and let us hope it can help Michigan to recover even faster in 2012.
Announcements of new infrastructure projects
New infrastructure projects are often expected during the election year. While some may argue this is unlikely because of the cut backs by the Government, there maybe some big scale public-private projects announced in 2012.
The proposed oil pipeline between Canada and USA is one of them, there are also several new toll roads connecting Canada-USA-Mexico being expanded to encourage the trading activities between the 3 countries.
We also hope that more projects like the super trains will be announced, certain cities will see new stadiums and improvements to airports in 2012, all of these activities can create significant new jobs opportunities for the construction industry.
Continued strong growth of tourism sectors
Tourism is another bright spot for the US economy over the past 3 years. The number of inbound tourists jumped significantly year-to-year, and in fact, it had been growing on the month-to-month basis as well.
This trend is unlikely to stop in the short term. Activities such as cross-border shopping, “housing shopping tours”, short-term students visits and cruising are all helping the job growth.
Job opportunities are being created because of these – jobs have been created on cross-border cities such as Buffalo. Growth in the cruising industry has helped Florida, and jumps in international students have helped many colleges, universities and language schools.
Renaissance of US manufacturing industry
Several consulting firms recently confirmed this point. Rising labor cost and shipping costs, and increasing patriotic buying have all contributed to the resurgence of US manufacturing industry.
Manufacturing in overseas markets is no longer a compelling case for many US companies; various incentives announced by the Government have also influenced the decision makers. Further increase in oil price could add further pressure to the shipping costs, prompting more US manufacturers to return parts of their factories back into the US.
For many US companies, they are now considering a new strategy to separate factories for US consumers and international customers.
New investments from Asian manufacturers
European manufacturers had set up significant presence in the US in 2011. Asian manufacturers are also setting up their presence in the US. Previously, this was mainly led by Japanese automakers; we are now seeing increasing number of Korean and Chinese automakers coming into the US.
A Chinese bus company had recently set up a new hybrid bus factory in the US; while Hyundai just made a new announcement about building a new headquarter in the US.
Electronics and telecommunications companies are also setting up their new operations and warehouses in the US to service their US based customers. We are also seeing a new trend where Asian companies are setting up new customer service centers in North America to provide technical supports and customer liaison instead of remain them back in Asia.