The US Bureau of Labor Statistics (BLS, the Bureau) is the principal fact-finding agency for the Federal Government in the broad field of labor economics and statistics. Here are some of the latest projections on employments and occupations outlook for the next 10 years:
- Total employment is expected to increase by 20.5 million jobs from 2010 to 2020, with 88 percent of detailed occupations projected to experience employment growth.
- Industries and occupations related to health care, personal care and social assistance, and construction are projected to have the fastest job growth between 2010 and 2020.
- Jobs requiring a master’s degree are expected to grow the fastest, while those requiring a high school diploma will experience the slowest growth over time-frame.
- Slower population growth and a decreasing labor force participation rate are expected to lead to slower civilian labor force growth.
Examining past and present changes in the following relationships, in order to project future shifts, is the foundation of the Employment Projections program of the Bureau of Labor Statistics.:
- The job openings result from the relationship that exists among the population, the labor force, and the demand for goods and services.
- The population restricts the size of the labor force, which consists of working individuals and those looking for work.
- The size and productivity of the labor force limits the quantity of goods and services that can be produced. In addition, changes in the demand for goods and services influence which industries expand or contract.
- Industries respond by hiring the workers necessary to produce goods and provide services. However, improvements in technology and productivity, and changes in the supply of workers affect which occupations will be employed by those industries.
The Bureau introduced a new education and training classification system with the 2010–2020 projections. The existing system was revised to show the different dimensions of education and training, rather than combining them into one category. For more details on these projections, refer to the source information linked below.
Source: Occupational Outlook Handbook, 2012–13 Edition
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