Understanding how the job market is expected to grow and evolve over the next twelve months is essential to your ability to predict employment growth. After all, if the economy is expected to grow, there should be more work available to go around, right? To help you out, we’ve done the hard work for you. Below, we highlight the most important expectations of the 2015 economy and job market, based on a report by the state of Texas.
Growth Optimism
Economists have a positive view on the growth of the Texas economy – which includes a prediction of slightly higher job growth in 2015 than we’ve seen in 2014 or 2013. This can mean great things for you – as the economy continues to improve, companies will grow. And as your business and other employers expand operationally, you’ll have a need for not just more employees, but more skilled employees. This means your company’s expansion efforts can have a big impact on our state’s economy, and help to drive growth on a national level as well.
Driving National Growth
States that have a heavy reliance on energy, oil and gas companies – namely Texas, North Dakota and Alaska – are experiencing higher growth than other states across the nation. This means, when compared to other states, there’s simply more opportunity and stability within the Texas economy. For you, this means your company will likely see a more secure market for selling and marketing what you do – and that what we do here in the Lone Star State will have a much bigger impact on helping to thrust the rest of the nation out of the slump of the recession as well.
Not a Perfect System
While the expectations laid out by the state of Texas in this particular report are expected to be fairly accurate, they’re not exact. Because these reports are put out once every three years, it can be hard to pinpoint exactly where our state will see growth over a period of several years – which means your particular industry will likely fluctuate a bit on the average. As always, it’s important to not just understand what’s affecting the state’s economy, but your industry as well to project what your company will need in terms of human capital with the most accuracy.
When you need help finding new employees to fit your staffing needs, High Profile is here to help with our ability to bring high-quality, experienced people to your team. Call us today at 972-991-7900 to get started.