Market Trends

What is a Market Trend?

A market trend is a definable pattern that, over time, causes industry dynamics to change. The market is constantly evolving, responding to both cyclical trends and long-term shifts. Understanding these trends will help you identify the current and future skill sets required by a variety of industries.

How will Market Trends influence your job search?

Consider the following:

• Are there currently job opportunities in your chosen field?
• Will there be a requirement in the future?
• Are you competing with a large work force?
• Is there an overabundance of candidates with your skills and experience, or are you in a niche field?
• What are employers considering "competitive advantages" in your field? (i.e. certifications, education.)
• Do you have the required qualifications to compete?
• Who are the successful companies right now?
• Who is hiring?
• Are the opportunities in the public or private sector?
• What are the current economic conditions?
• Is the economy having an impact on salaries?
• Are employers looking for employees or independent contractors?

Now what?

Once you have identified the trends, learn as much as possible about the companies that may be affected by them.

Newspapers, trade publications and business journals are excellent starting points, and may provide answers to many of the above questions. Furthermore, by monitoring press releases you'll know who has recently won large contracts that may present job opportunities.