(NEXSTAR) — Since the start of the year, thousands of people have been laid off, especially in the tech industry.
Snap, the parent company of Snapchat, announced plans to lay off more than 500 employees earlier this month. Microsoft, eBay, YouTube, and Google rolled out layoffs in January. Even part of NASA had to lay off hundreds of employees due to congressional budget gridlock.
It’s hard not to wonder whether you’ll find yourself laid off. A recent survey by Glassdoor found that only 45.6% of workers have a positive six-month business outlook for their employer, marking the lowest level ever reported since the job and recruiting site began tracking such data in 2016.
Your chances of being laid off could change, depending on the field you’re in. Take the tech industry, for example. As interest rates remain high, and the dollar is stronger, these companies can struggle, Julia Pollak, chief economist for ZipRecruiter told Nexstar.
But it isn’t just tech where layoffs have been reported. Retailers REI and Macy’s announced layoffs in January, affecting roughly 350 and 2,350 people, respectively.
“Many of the industries that boomed during the pandemic have experienced more muted growth or even losses since,” Pollak explained, pointing to the transportation and warehousing sector, which grew during the pandemic but has since lost about 1.4% of jobs. “These losses grab headlines, they look large, perhaps, but many of them are pretty small as a share of these industries, and they’re coming on the heels of a period of explosive, epic growth.”
Other industries that tend to see higher rates of layoffs, according to Pollak, include construction, where seasonal changes and demand can impact hiring, as well as leisure and hospitality and the arts.
Some fields tend to have longer employee tenures and lower rates of layoffs and discharges, Pollak says. Among those are insurance, finance, information, education and health care — fields that could even see job growth in the coming years.
Data from the U.S. Bureau of Labor Statistics shows the average job growth for all occupations is 3% between 2022 and 2032. Some occupations within the aforementioned fields, however, are on track for much greater employment increases.
The overall employment for nurse anesthetists, nurse midwives and nurse practitioners, for example, is projected to grow 38% by 2032. For home health aides and personal care aides, overall employment could grow 22% over the same period, with about 684,600 openings forecasted annually. Postsecondary teachers may also see growth, with current forecasts pointing to an 8% increase. That could be even higher depending on the focus — like health specialties, nursing, and engineering — according to the BLS.
Other job fields that fared relatively well during the 2001 and 2008 recessions — signaling more job security during times of economic uncertainty — include food preparation workers and cooks (including fast food), childcare workers and law enforcement workers, according to a 2019 analysis by ZipRecruiter.
The recent waves of layoffs aren’t necessarily cause for panic. The current level of layoffs is lower than it was before the pandemic, Daniel Zhao, lead economist at Glassdoor recently told NewsNation. Applications for jobless claims are down across the U.S., based on the latest data from the Labor Department.
As January ended and February began, applications for unemployment fell by 9,000 over the previous week. In total, 1.87 million Americans were collecting jobless benefits during the week that ended Jan. 27, a decrease of 23,000 from the previous week.
If you were recently laid off, Pollak warned you may be at a disadvantage now “because hiring is relatively slow,” but added that you shouldn’t be discouraged.
“Over the course of the coming weeks and months, more and more and more jobs are going to be posted, and fewer and fewer people are going to be laid off,” she explained. Pollak also recommended applying quickly when new jobs are posted.
Data shows U.S. employers delivered a stunning burst of hiring to begin 2024, adding 353,000 jobs in January in the latest sign of the economy’s continuing ability to shrug off the highest interest rates in two decades.
Last month’s job gain — roughly twice what economists had predicted — topped the December gain of 333,000, a figure that was revised sharply higher. The unemployment rate stayed at 3.7%, and has been below 4% for 24 straight months — two full years — the longest such streak since the 1960s.
If you are still concerned you may be laid off, experts recommend taking a number of steps, like establishing an emergency fund, updating your resume, learning a new skill, and tapping into your network of connections.
The Associated Press contributed to this report.