The U.S. Bureau of Labor Statistics (BLS) reported on Dec. 10, 2009 that, during the 2008 to 2018 period, the total employment in America is projected to increase by 15.3 million, or 10.1 percent.
These are very interesting projections; and good news at the times when jobs are scarce. Some of the key highlights of the study are:
- Projections show an aging and more racially and ethnically diverse labor force, and employment growth in service-providing industries. More than half of the new jobs will be in professional and related occupations and service occupations.
- Occupations where a post-secondary degree or award is usually required are expected to account for one-third of total job openings during the 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.
- The projected growth for the 2008-18 period is larger than the increase of 10.4 million over the 1998-2008 period, or 7.4 percent.
- The relatively slow growth rate for the earlier 10-year period was affected by the recession which began in December 2007, and the projected growth rate is higher than would otherwise be expected because the 2008 starting point is a recession year.
This report focuses on four areas for which BLS develops projections–labor force, industry employment, occupational employment, and education and training. Read the rest of this entry »
