The U.S. Bureau of Labor Statistics announced last week that total employment is projected to increase by 15.3 million, or 10.1 percent during the 2008-2018 period. According to the projections, more than half of the new jobs will be in professional and related occupations and service occupations. Where a post-secondary degree is required, these jobs are expected to account for one-third of job openings during the 10 year projection period. Job openings from replacement needs–those which occur when workers who retire or otherwise leave their occupations need to be replaced–are projected to be more than double the number of openings due to economic growth.
SEE WHICH INDUSTRIES ARE PROJECTED TO GROW AND THOSE THAT ARE PROJECTED TO DECLINE OVER NEXT 10 YEARS
Service producing industries are projected to add 14.6 million jobs or 96 percent of the increase in total employment. The two leading services are: professional and business; and health care and social assistance.
***Professional and business– projected to add 4.2 million jobs. Detailed industries that likely to have the most jobs growth are: management, scientific technical consulting; computer systems design and employment services (adding 2.1 million jobs).
***Health Care and Social Assistance–projected to add 4.0 million jobs. Detailed industries likely to have the most jobs growth are: employment in offices of physicians, home health care and services for the elderly (adding 2.0 million jobs)
INDUSTRIES PROJECTED TO LOSE JOBS OVER THE 2008-2018 period are:
***Manufacturing– projected to lose -1.2 million jobs and Mining, -104,000 jobs
Detailed industries projected to lose jobs are: Department stores (-159,000 jobs), Semi-conductors (-146,000) and Motor-vehicle parts (-101,000 jobs).
