The 2024 Job Market Outlook for Engineering Professionals

Engineering offers some of the most advanced and innovative work available today. Ready to make a change in your career? The job market is always evolving, so stay informed and make the best decision you can for your area of expertise. Read on for some insight and tips from the experts at hiring experts. 

The engineering job market is poised for a significant upswing in 2024. According to the Bureau of Labor Statistics, employment of engineers is projected to grow by 4.0 percent, adding about 65,000 new jobs. This growth is fueled by the increasing demand for advanced technical solutions in various sectors, from manufacturing to tech start-ups. The sustainability movement is also gaining momentum, and will create more opportunities for engineers in green jobs. 

But this bright outlook is not without its challenges. Economic inflation, lower job turnover, and slower wage rate growth are factors that may pose obstacles to job seekers. For instance, construction wages are expected to experience upward pressure in 2024 as labor demand continues to outpace supply. This situation might affect smaller firms more than larger organizations, potentially leading to a more competitive job market. 

Wage growth is slowing across all job levels.

In particular, wage growth across the US is headed toward pre-pandemic levels after years of rapid growth. The latest data shows that wages grew 4.5% year-over-year in August 2023, less than half their recent top growth rate of 9.3% in January 2022. And although the size of the decreases changes from sector to sector, there’s a considerable dip across all wage tiers. 

Yet, despite these challenges, opportunities will abound in many areas of engineering. Particularly for mechanical and electrical engineers, the hiring trend remains strong. Industrial engineering jobs are growing at an impressive rate of 12% year-over-year, a pace that outstrips the average field. Furthermore, the rise of AI and machine learning has opened up new avenues for engineers, with cybersecurity dominating the job market.  

Highlight your skill sets in highest demand.

Aspiring engineers can expect competitive compensation packages, reflecting the high demand for their skill set. Employer expectations are evolving too, with a growing emphasis on adaptability, problem-solving skills, and a deep understanding of cutting-edge technologies. The opportunity for engineering professionals to carve out your own niche remains promising. A key to managing the journey lies in anticipating these market shifts and strategically equipping yourself with the latest skill sets in demand. Looking at recent Kelly data, we analyzed the top skill sets required by employers for senior-level engineering positions, as well as the fastest growing skill sets.  

Fastest growing skills in demand.

Skills most in demand.

Use these skills to position your job search for maximum impact. Bolster your resume with any certifications or professional associations that reflect these skills or consider expanding your skill set to be as competitive as possible. Look for free online courses, webinars, or training programs. Just 15% of qualified candidates typically have the latest requirements.  

That’s why, for example, we’ve developed the Kelly Learning Center—a virtual training platform that offers a wide variety of courses, videos, books, audiobooks, and certifications, completely free to our Kelly team. Use resources like this to demonstrate your talent with a strong, comprehensive certification history and gain an edge with employers today. 

Partner with an expert in your work specialty.

Another way to combat the impact of lowering wage rate growth is to define your desired salary and must-have benefits. Use online tools like salary.com to establish exactly what an engineer or technician in your role is making in your specific geographic area. It always helps to ask an expert for help. Nearly 100% of Kelly recruiters have a background in the engineering fields they recruit for—so we get your needs, speak your language, and know how your skills can transfer to new roles. We’re also the authority in specific industry job markets, so we know what will stand out on your resume for your location. 

Beyond subject matter expertise, a partner like Kelly can connect you to exclusive openings at clients that you may not be able to reach on your own. Sometimes it’s simply about who you know! But increasingly today, it’s a human connection that makes the difference, as one candidate confirms: 

“I’ve enjoyed working for Kelly Engineering. I feel that they care about their employees. My rep advocates for me and communicates with me regularly. I’ve been able to advance and continue to grow. That’s something that truly matters to me. I feel valued.”  – Engineer, Michigan 

The job market for engineering roles offers a promising landscape filled with numerous opportunities, but not without challenges. Economic inflation, lower job turnover, and slower wage growth will create a competitive landscape, demanding more from job seekers. To navigate this terrain, you need to stay proactive, informed, and strategic. Consider earning professional recognition or certifications to stand out. And leverage a specialized recruitment service like Kelly Engineering for insightful guidance and comprehensive support. We can help you seize the right opportunity in this evolving market.  

Want more information on how Kelly can work with you to support your engineering career? Explore the roles we’re actively recruiting for now, or join our talent pool to submit your credentials to our recruiters without applying for a specific job.