Job Outlook 2023: Should You Consider a Career Change?

It may be time to dust off that resume.

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Key points

• The U.S. economy has millions of available jobs.
• A new survey reveals a large chunk of workers intend to pursue better opportunities in the new year.

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There was definitely a point during the pandemic when jobs were difficult to come by, and unemployment was rampant. But thankfully, we're no longer there.

At this point, jobs are abundant, so much so that the U.S. Bureau of Labor Statistics recently reported that in October, there were 11 million jobs up for grabs. Considering that, it's not too surprising that 39% of workers think they'll make a job switch in the new year, according to a recent Fidelity survey.

But should you be looking for a new job? Ask yourself these questions to find out.

1. Am I happy with my salary?

Earning a decent wage won't just make it easier to pay your bills. It could also get you closer to meeting different goals, whether it's building a solid retirement nest egg or buying a home. If you've done some research and have found that you're underpaid and your employer won't give you a raise, then it may be time to pursue another role.

In fact, these days, a lot of companies are so desperate to hire that they're raising wages and offering other perks, like sign-on bonuses, to attract workers. And so, if your employer isn't willing to budge on salary, you may find another that's more eager to negotiate.

2. Do I like the work I'm doing?

There's a value to doing interesting, meaningful work that doesn't make you dread coming to the office. But if you don't like what you're doing, are bored, and aren't particularly thrilled with your colleagues or work environment, then it may be a good idea to explore other job opportunities. You could either look for work within your existing field or make a career change.

That said, if you're going to switch careers, it's a good idea to first make sure you have a decent cushion in your savings account. Switching fields often means having to take a step backward temporarily, and you'll want to make sure you can cover your bills during that transition period.

3. Is my schedule flexible?

These days, many employers are giving workers more flexibility in their schedules. In some cases, that means getting to leave early to pick children up from school or getting to work remotely on a full-time or partial basis. If your employer is the opposite, and you get no flexibility at all, then it may be time to move on.

4. Is there room for job growth?

Getting stuck at a dead-end job could be a blow to your morale and also create a scenario where you don't get ahead financially over time. If you're convinced there's no upward mobility at your current job, then it may be time to pursue a new one.

If you're on the fence about getting a new job in 2022, do a little digging and see what's out there. If you're reasonably happy where you are, you don't have to rush to make a switch. But if you're not content in your current role, it pays to explore different opportunities.