02/11/2008

News / Jekyll-and-Hyde economy

As some jobs vanish, others are in high demand

Jack Harrington says dot-net Web developers command six-figure salaries these days, and the job recruiter only wishes he had 40 candidates to fill all of the vacancies that he knows about.

“If you’ve got the right experience, you can find an opportunity within days,” said Harrington, CEO of West Roxbury recruiting firm Atlantic Associates.

Recession jitters have many economists warning that the Bay State could soon face big job losses - but only in certain industries.

Experts say other sectors seem poised to keep growing, offering workers with the right skills plenty of jobs to choose from.

“In many ways, we have a ‘Dr. Jekyll and Mr. Hyde’ economy,” said Alan Clayton-Matthews, a University of Massachusetts/Boston economist.

The expert admits the Bay State’s weak housing market has hit construction workers hard, while soft consumer spending has hurt retail employees, too.

But Clayton-Matthews also said the state is seeing “very strong job growth” in engineering, medicine and other fields - particularly among companies that export goods and services overseas.

“If the world economy keeps growing, these industries should help buffer us from what’s going on in the rest of country,” the economist.

Bay State jobs that experts see weathering any storm include:

Medical workers. A 2004 Massachusetts Department of Workforce Development study estimated the state will add 63,570 health-care jobs by 2014. That’s a 17.1 percent increase over 10 years - more than the double the 7.8 percent growth expected for the Massachusetts economy as a whole.

“STEM” jobs. Clayton-Matthews said workers in the “STEM” sector - science, technology, engineering and mathematics - should do well even if the broad economy tanks. The state agency projects Massachusetts will add 54,340 professional and technical jobs by 2014, a 24.3 percent gain from 2004.

Project managers. Harrington knows of 10 to 15 current openings for project managers, who oversee teams of employees working on complex tech tasks. The expert said some available jobs pay as much as $150,000 a year.

Health-care analysts. Harrington said there are some 60 jobs currently open for health-care analysts, who help hospitals and other medical operations transfer work to computers. The recruiter said annual salaries run as high as $90,000.

Still, experts fear other Bay State professions will face major hits if the U.S. economy tanks. Jobs at risk include:

Construction. DWD economist Elliott Winer said the real estate slowdown cost Massachusetts 3,200 construction jobs last year, while projections call for a 3,920-position pullback by 2014. That’s a 2.8 percent decline from 2004.

Manufacturing. The Bay State lost some 2,600 manufacturing jobs in 2007, and expects to shed 31,720 by 2014 - a 10.1 percent drop over 10 years.

jkronenberg@bostonherald.com
(0) Comments | Post / Read Comments
Next Article in Business & Markets:
Countrywide unveils plan to help subprime borrowers

Autos. Although Massachusetts has little direct involvement with car manufacturing, Clayton-Matthews still expects Detroit’s woes to affect the Bay State. For instance, he sees fewer jobs down the road for automobile salespeople.

By Jerry Kronenberg

Source: http://www.bostonherald.com/business/general/view.bg?articleid=1072659

1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 | 31 | 32 | 33 | 34 | 35 | 36 | 37 | 38 | 39 | 40 | 41 | 42 | 43 | 44 | 45 | 46 | 47 | 48 | 49 | 50 | 51 | 52 | 53 | 54 | 55 | 56 | 57 | 58 | 59 | 60 | 61 | 62 | 63 | 64 | 65 | 66 | 67 | 68 | 69 | 70 | 71 | 72 | 73 | 74 | 75 | 76 | 77 | 78 | 79 | 80 | 81 | 82 | 83 | 84 | 85 | 86 | 87 | 88 | 89 | 90 | 91 | 92 | 93 | 94 | 95 | 96 | 97 | 98 | 99 | 100 | 101 | 102 | 103 | 104 | 105 | 106 | 107 | 108 | 109 | 110 | 111 | 112 | 113 | 114 | 115 | 116 | 117 | 118 | 119 | 120 | 121 | 122 | 123 | 124 | 125 | 126 | 127 | 128 | 129 | 130 | 131 | 132 | 133 | 134 | 135 | 136 | 137 | 138 | 139 | 140 | 141 | 142 | 143 | 144 | 145 | 146 | 147 | 148 | 149 | 150 | 151 | 152 | 153 | 154 | 155 | 156 | 157 | 158