A new study shows which business administration jobs are most suitable for retirees, and which ones can be held in a high-pressure environment.
The study, from the University of British Columbia, shows that the profession’s biggest employer in 2017 was the federal government.
The government’s budget includes more than $1 trillion of federal spending, which includes a large portion of the federal budget.
“Our results show that the federal economy is far more vulnerable to economic shocks than we originally thought, and that its ability to recover from a crisis could depend on the ability of the government to make necessary adjustments,” said Michael E. Drennan, an associate professor of management at UBC.
“The government must be prepared to make these necessary adjustments.”
The report also shows that public administration is a high demand career for retirees.
The survey found that 82 per cent of UBC’s graduates were looking for another job in 2018, and a large majority said they were looking to expand their skills.
A survey of more than 2,500 people aged 55 and over by the Federal Reserve Bank of New York found that more than half of respondents were looking forward to retiring in 2026.
“Retirement has become increasingly popular as a career for Americans, especially in industries like finance, consulting and health care,” said Erika Estrada, senior economist at the Federal Open Market Committee.
“It’s time for government agencies and government contractors to recognize that retirement is becoming an increasingly popular career choice, not only for retirees but for everyone who is interested in public administration.”
The study found that public service professionals in public service jobs were more likely to be in high-demand positions.
“If we were to look at a broad survey of public service workers, they are most likely to look for a position that requires a strong leadership and organizational skills and is flexible in its approach to the task at hand,” said Drennsnan.
The report found that the top-ranked public service positions were management and operations, administrative support and administrative support, senior leadership, and senior management.
A full-time public service job in the public sector is the most common public service career, according to the survey.
“These positions are typically associated with high levels of stress and pressures, so these positions may be viewed as the best career options for public service employees who are stressed,” said Chris Stokes, research fellow at the University the Bank of England, who also wrote the report.
The most popular public service roles are: manager, deputy director, deputy chief executive officer, chief operating officer, or chief information officer.
Public service workers also report feeling more positive about their retirement prospects when compared to private sector workers.
“They see their own retirement as more likely if they can be in a position to be compensated well in retirement and they feel more confident that they can do so in a more timely manner,” said Stokes.
The Federal Reserve has announced it is reducing the interest rates it pays on bonds and other investments, and is increasing the maximum amount it can lend to financial institutions.
The Fed said in December it will increase the minimum wage for workers to $7.25 an hour.