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Who's hiring in this uncertain economy?

Among the resilient sectors: health care and AI.

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Even among sectors that are hiring, economic uncertainty is manifesting in conservative compensation packages.
Even among sectors that are hiring, economic uncertainty is manifesting in conservative compensation packages.
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By the end of the week, we’ll know more about just how resilient this job market really is in the face of uncertainty, with new data out about job openings and unemployment. For now, what we do know is that many firms are taking a wait-and-see approach before investing in new employees — but not all of them.

It’s a great time to be looking for certain upper level jobs, like in health care, said Alan Guarino with consulting firm Korn Ferry: 

“So huge demand for hospital administrators, health care operations, execs, senior clinical managers,” he said.

Higher level roles in artificial intelligence and data science are also open. As well as certain parts of the energy marketplace like utilities, construction and green energy.

“Renewable energy, modernizing infrastructure. Government stimulus is driving some of this. So you've got senior project managers, engineers, top execs,” Guarino said.

Employers are also looking to fill roles in finance and accounting, said Karen Warren with talent firm Robert Half. 

“It's well documented that the employers we're seeing are still competing for a specialized talent, in particular in finance, maybe at that senior accounting accounting manager space,” she said.

These are bright spots at a time when the hiring rate is low, according to Yelena Shulyatyeva, a senior U.S. economist at The Conference Board.

“Companies are extremely cautious about hiring new employees and this situation is exacerbated by this extremely high level of uncertainty that we observe,” she said.

That uncertainty is already showing up in compensation packages, said Jack Jones, a principal consultant at human resources firm Mercer.

“I think employers are being more cautious, not only given the like kind of economic uncertainty, wanting to be more conservative with their compensation and how they're hiring,” he said.

But also, he said, it’s a steadier labor market. So there’s less of a need to hike up salaries for new hires. 

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