Senior Spotlight: Career Changes & Challenges In 2023

While there are more job openings than employees, there is still a strategy to navigating a strong job market.

Today our Senior Spotlight is for those who are not quite ready for retirement yet! Individuals aged 50+ may still be planning for retirement while preparing for a career change or hoping to make the most of a job seeker’s market in their final decade of employment. Just last week, semi-retirement coach and author of ‘Second-Act Careers: 50+ Ways to Profit From Your Passions During Semi-Retirement’ has shared some helpful tips and we wanted to highlight a few of them below.

The full article titled ‘What You Need to Know to Land a Job in 2023’ can be found here on Next Avenue – one of our favorite sources for timely and well-rounded topics for those who enjoy the journey of getting older and wiser.

Did You Know:

- The latest data reveals a very resilient job market, with 517,000 jobs added in January 2023

- The unemployment rate is 3.4%, the lowest in more than 50 years

- There are 1.9 jobs available for every individual seeking one

- While jobs openings are abundant, many bigger companies such as Google, Amazon, Disney and Salesforce have had layoffs

- Strategy is key in a job market where not all industries & opportunities are growing at the same rate

What To Consider:

- Expect fewer fully remote opportunities and more hybrid models with a part-time office requirement

- Get clear guidelines on the expectations for remote vs. in-person office time

- Wage growth has slowed in 82% of job sectors according to the Indeed Wage Tracker; salaries rose in spring 2021 after the initial economic shock of the pandemic

- Wages are currently rising at a 4.4% annual pace which is expected to slow to 3-4% in the second half of 2023

- Strategize salary negotiations: carefully research your industry & position, talk with your network and be sure to consider the value of retirement matches, health insurance & flexible spending as well as gym memberships and other ‘perks’

- Plan to participate in at least a few video interviews – 93% of employers who implemented video interviews during COVID-19 plan to keep it that way

- Emphasize your skill set; many hiring managers are prioritizing skills over degrees.

- Walmart, Google, Apple and IBM, as well as some state and local governments, have pledged to implement skills-based practices

We hope this Senior Spotlight has been informative & insightful! We strive to support older adults who are in all stages & phases of life, and we encourage you to find a job you love so much that it never (okay, rarely 😉) feels like work!

Warmest regards,

Bobbi

Bobbi Decker
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