The United States labor market has started the new year with a bang. The U.S. economy added over 350,000 jobs last month, far exceeding expectations. That means plenty of work for those who want it, yet the number of jobs does not always equal quality. When it comes to finding a position, some roles are more desirable than others.
The 2024 Best Jobs list, compiled by U.S. News & World Report was released last month.
With an increased demand for health care, nurse practitioners took out the coveted No. 1. slot.
“Health care workers are critical to our overall well-being,” says Erika Giovanetti, Money expert at U.S. News. “Nurse practitioner rose to the No. 1 spot as this year’s best job. The 10-year outlook for the occupation is strong, with one in three of the top 100 jobs being in health care – an increase from one in four in the 2023 rankings. Future growth and a high median salary make this career sector appealing as well.”
The rankings compare roles across 17 categories, factoring in the most important aspects of a job, including growth potential, work-life balance, job safety, employment rate, and salary.
Coming in behind nurse practitioner was financial manager, followed by software developer, IT manager, and physician’s assistant. In consecutive order, ranking out the top ten were health services manager, information security analyst, data scientist, actuary, and speech-language pathologist.
Of the top ten professions, only three required a Master’s degree, with the other seven requiring a Bachelor’s degree. All but one boasts a six-figure median annual salary.
Among the top jobs in the technology category were software manager, IT manager, information security analyst, data scientist, and web designer.
The top business jobs were financial manager, health services manager, actuary, statistician, and management analyst. All these roles averaged north of $90,000 yearly.
Dropping out is now in
Most of these jobs require a college education, yet college participation rates are falling rapidly, an alarming trend exacerbated by the pandemic.
Total U.S. undergraduate college enrollment crashed 8% from 2019 to 2022, according to data from the National Student Clearinghouse. According to the U.S. Bureau of Labor Statistics, that’s the steepest decline in the college-going rate on record.
The drop-off is most notable among men, who make up the vast majority of missing students over the past decade. As a result, 44% of young college students today are men, down from 47% in 2011, according to newly released U.S. Census Bureau data.
On a positive note, enrollment bounced back in the fall of 2023, with Black, Latinx, and Asian students accounting for most of the undergraduate and graduate enrollment growth.
The top five “Best Jobs Without a College Degree” are hearing aid specialists, community health workers, electricians, wind turbine technicians, and flight attendants. Meanwhile, the “Highest Paying Jobs Without a Degree” are executive assistants, patrol officers, flight attendants, sales representatives, and sound engineering technicians. The median salaries for these workers falls between $60,000 and $70,000 annually.
Giggin’ it
While such rankings remain useful in comparing industries and roles, neither profession selection nor career progression is as linear as it used to be. The digital revolution has made the nature of work much more fluid and flexible. The proliferation of gig marketplace platforms that match workers to openings has made the near-constant search for new jobs possible. Workers are potentially always on the lookout for their next gig.
For instance, there are more than a dozen apps that help Americans find odd jobs in close proximity, including FieldAgent, Fiverr, and DoorDash.
With more young people opting out of college, more teenage high school graduates will likely look for work sooner. Although 16 is often cited as the basic minimum age for employment, there are a number of businesses that hire 15-year-olds. These include fast-food outlets like McDonald’s, Burger King, and Pizza Hut, as well as grocers like Kroger, Publix, Giant Eagle, and others.
Other ways to make extra money exist without taking on casual work that is paid by the hour. For instance, taking online surveys, downloading apps, and reading emails are all ways to make a quick $100 in one day. For those with entrepreneurial spirit, there are many more side hustles to try and online businesses to start.
There are many avenues to go down to achieve career success and financial security beyond the top-paying or highest-ranked professions. By embracing new opportunities in the digital economy, upskilling to take on new roles, or even engaging in side hustles to boost income, Americans can forge their way forward in this brave new world of work.
This article was produced by Media Decision and syndicated by Wealth of Geeks.
