Research Job Outlook and Calculate Average Rates of Growth
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In this segment of the lesson, you will delve into researching the job outlook for the careers listed on your spreadsheet. Understanding job outlook is crucial as it indicates the potential growth of a field and the likelihood of more jobs becoming available over time. Choosing a career with a promising outlook suggests the possibility of an increasing number of job opportunities in that field in the future. A reliable resource for this information is the U.S. Bureau of Labor Statistics (BLS), which publishes data on the expected availability of jobs in specific fields in the coming years. This data can be found by searching for the “Occupational Outlook Handbook” online. When considering different career paths, it’s important to factor in the future job availability in those fields.
To start, research the current job outlook for the first career on your list. Ensure you use credible sources for your research, like the BLS or established news publications. Search for terms like “job outlook dental laboratory technician” or “projected growth rate paralegal.” Once you’ve gathered your data, add the sources and the projected growth percentages for each career to your spreadsheet. Growth projections can vary based on several factors such as the field’s history, the economy, and more. Generally, a higher growth percentage indicates more expected job openings in that career over the next 5-10 years. Under your sources, type “Average” and make it bold. Then, copy and paste the AVERAGE formula you previously used for salary calculations to compute the average job growth. When copying the formula, remember that cell references automatically update, so double-check to ensure the formula is averaging the correct cells. Repeat these steps for additional careers to get a comprehensive view of job outlooks. Now, it’s your turn to insert job growth percentages and sources, add an “Average” label and make it bold, use a formula to calculate average job growth, and replicate these steps for other careers.