Lucrative Degrees for the Future
The economy is an independent entity that functions outside of our knowledge and analysis. Put ten economists in a room and they can give you ten different opinions regarding the direction of our economy. While predicting the course of the economy is still not an exact science, people understand the workings of it and how it affects other factors in the United States of America. The economy significantly affects the labor markets in the United States and dictates which jobs are more in demand. The demand for jobs in their field changes depending on the demand for the services and goods of various companies and industries. In order to gain employment in many of these fields, one must hold a college degree. Based on economic cycles, the college degree a student possesses can be either very valuable or virtually worthless depending on the demand for their educational qualifications.
Technology, Economic Cycles, and Other Factors Dictate Job Growth
The degree you have sets you up for the job you will earn after graduation. Several factors contribute to the demand for your degree. Consider the recent recession, which resulted or spurred from the demise of many prominent banking institutions. These stumbles in the finance industry may temporarily limit the supply of new finance positions. On the other hand, the demand for students studying technology-related majors is increasing due to the increase in technology use by corporations and individuals.
Areas of Growth and Majors Associated With Them
The United States of America’s Bureau of Labor Statistics conducts many different surveys and analyses regarding the United States’ labor market. It projects job growth based on factors like the economy, research opportunities and population trends. Some of the fastest growing occupations according to the Bureau of Labor Statistics include:
- Biomedical engineer – A biomedical engineer employs his or her knowledge of engineering, biology, and biomechanical concepts to the creation of biological and health products. Some of these products include artificial organs, prosthetics, health management systems and nanomachines. This field is expanding quickly (projected to grow 72 percent between 2008-2018) due to the huge influx of new research and the rise of advancement in technology allowing for innovation in the area. Students majoring in engineering, biomedicine, biology and biomedical engineering are in a prime position to find employment in this area.
- Network systems and data communications analysts – This profession generally works for corporations and large organizations, setting up and maintaining their network infrastructure. More organizations are taking advantage of technology and require trained professionals who can manage it. This profession is projected to grow 53 percent between 2008-2018. Computer science and information technology majors are best equipped to enter this field.
- Financial examiners – Financial examiners work to ensure that their clients comply with laws and regulations governing financial transactions and institutions. Given the recent collapse of many banks and financial corporations, the demand for competent individuals who can recognize proper administrative techniques and inform a company of their ability to perform them is quite strong. Accounting scandals like Enron increase the need for financial examiners. The demand for financial examiners is projected to grow by 41 percent between 2008-2018. Students majoring in finance and accounting can enter this profession.