Panic | A huge amount of Americans are upskilling, in fear of layoffs

A huge amount of Americans are upskilling, in fear of layoffs
A huge amount of Americans are upskilling, in fear of layoffs

The a huge amount of American workers are currently in the process of focussing their efforts on upskilling themselves, to improve their chances of being able to change jobs.

The move comes as over 67% admitted that they feared imminent layoffs under their current employer. Many believe what will save their own careers is the diversification of their own skills, and especially the development of key soft skills.

According to the data, which was sourced by Talent.com, around 37% of workers are focused on diversifying their skillset and 30% are working on improving skills they already possess to increase the value they can provide to their employers

The report ascertained that nearly four in ten Americans between the ages of 35-54 (around 39% of the workforce) are focused on learning new skills, outlining the willingness of experienced workers to adapt to meet the demands of the current landscape.

With news of vast layoffs at the likes of PayPal, Dell and most recently Disney, it seems that a sense of job security is at worrying levels within the US workforce.

According to Gallup data, this number peaked at a record-high 25% of workers in the throes of the pandemic, and whilst it has dropped with time, a worrying 15% still feel that it is ‘very likely’ that they’ll lose their jobs within the next 12 months.

This is perhaps the key impetus behind the move to take up ‘side hustles’. According to Talent.com’s data, a massive 45% of Americans are likely to take up a side hustle in the face of economic uncertainty, to pad the financial fallout that redundancy could bring.

A significant proportion are also opting to picking up extra hours at existing jobs and engage in freelance opportunities, at 33% and 27% of respondents respectively.

The silver lining

However, whilst workers feel unstable in their current roles, Gallup’s data did provide a silver lining. The percentage of US adults saying it’s currently a good time to find a quality job has been steadily above 70% since last August, which is considerably higher than the 22% to 43% range found throughout the first year of the pandemic.

And, even when compared to pre-COVID data, recent ratings of the job market surpass the 68% of Americans who were optimistic about it in January 2020, before COVID-19 forced the closure of many businesses and the unemployment rate spiked.

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