Anyone who is going to pursue a job in Human Resources after completing college should first consider supply and demand. The supply of current HR professionals and the demand for newly educated graduates is crucial when you are looking for openings that are relevant to entry-level professionals.
Graduates frequently choose majors in fields where the supply of graduates and seasoned professionals is dramatically higher than the demand for qualified applicants. This is what you are striving to avoid by doing your research. Fortunately, a branch of the government called the Bureau of Labor Statistics does detailed research in most fields to assess current trends and project future Employment Outlook. Here’s what you should know:
What Type of Growth is Projected?
The Occupational Outlook Handbook published by the Bureau of Labor Statistics is a detailed source of information for job seekers or for individuals who just want to review career information and data. In one area of the handbook, the BLS includes a section on Job Outlook for a 10-year period. The projection is calculated by analytics professionals at BLS.
According to the data compiled, it is projected that Human Resource Management will grow by 9 percent between the years 2016 and 2026. This means that there will be an estimated 12,300 new positions created over a decade. Since overall outlook for all industries is only projected to grow by 7 percent, the outlook for HR professionals is positive.
Outlook is Very Dependent on Industry and Location
One of the interesting things about the research that is conducted by the BLS is that it can be misleading because it is an average at a national level. Many would assume that the hopes for landing a job for prospective managers are positive, however, employment growth in HR especially is very dependent on the industry that you work in and then also the region that you are planning to live and work in.
Anyone who is seeking a position in Human Resources management must consider whether or not corporate offices are commonly found in their region. Smaller companies may have in-house managers onsite as opposed to in a large office, but larger companies employ these HR professionals in their headquarters. You will need to look at geographic outlook to really get a feel for what your prospects are.
Which Regions Have the Highest Demand for HR Professionals
The demand by state or city is a bit more difficult to research primarily because it is so targeted. The Bureau of Labor Statistics will also request statewide information to establish geographic profiles that citizens can use. If you would like to relocate to an area where the need for human resource professionals is high, here is the BLS list of the areas with the highest employment levels:
- New York – Jersey City
- Chicago – Arlington Heights
- Los Angeles – Long Beach – Glendale
- Atlanta – Sandy Springs
- Washington – Arlington
- Minneapolis – St. Paul
- Boston – Cambridge
- Seattle – Everett
The BLS estimates that there will be an estimated 148,400 HR managers by the end of 2026. Some of these will be new graduates and others will be on the verge of retirement. Since many managers today are nearing retirement, it’s said that many more positions will open up in the near future. This is the best time to be studying for a degree majoring in Human Resources Management.