Making
informed career decisions today requires reliable information about
opportunities in the future. Between 2004 and 2014, over 19 million jobs will
be added will be added to the U.S economy. These 19
million additional jobs will not be evenly distributed across major industrial
and occupational groups. This nation's long-term shift from goods-producing to
service-producing employment is expected to continue, and service producing
industries are expected to account for over 98% of the new 19 million
wage/salary jobs generated over the 2004-2014 period. Key service-producing
industries that are projected to see strong growth over this period:
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Education & Health Services
This industry is expected to grow faster (30%) and add more jobs than any
other sector. About 3 out of every 10 jobs created in the U.S. economy will
be in either the healthcare & social services or private educational
services sectors. Private hospitals, nursing and residential care facilities,
and individual & family services will add 4.3 million new jobs over the 2004-2014
ten-year period. The combination of the aging population and longer life
expectancies will drive the employment growth in healthcare & social
assistance. Also, as more women enter the labor force, the demand for
childcare services is expected to grow. Private educational services will add
nearly 1 million jobs through 2014 with the rising student enrollments at all
levels of education.
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Professional & Business Services
This industry super-sector includes some of the fastest growing industries in
the U.S. economy, and is projected to add 4.5 million new jobs by 2014.
Employment services are projected to contribute almost two-thirds of all new
jobs in administrative & support, waste management and remediation
services. Employment services ranks among the fastest growing industries in
the Nation and is expected to be among those that provide the most new jobs.
Employment in professional, scientific & technical services will add
almost 2 million new jobs by 2014. Half a million jobs will be added in
computer systems design and related services with the increasing reliance of
businesses on information technology and the continuing importance of
maintaining system & network security. Management, scientific &
technical consulting services is expected to grow 60% over the 2004-2014
period, spurred by the increased use of new technology and computer software
compounded by the growing complexities of business. Management of companies
& enterprises will grow by 11%.
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Information
Information contains some of the fast-growing computer-related industries
such as software publishers; Internet publishing and broadcasting; and
Internet service providers, Web search portals, and data processing services.
These industries are expected to grow by 68%, 44% and 28%, respectively.
Overall, the Information super-sector is expected to grow by 12% and also
includes: telecommunications, broadcasting, and newspaper, periodical, book
& directory publishers. Increased demand for residential & business
land-line and wireless services, cable service, high-speed Internet
connections and software will fuel job growth among these industries.
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Leisure & Hospitality
Overall employment will grow by 18%. Arts, entertainment and recreation will
grow by 25% and add almost half a million new jobs by 2014. Job growth will
stem from public participation in arts, entertainment & recreational
activities, reflecting increasing incomes, leisure time, and the awareness of
the health & physical fitness benefits. Accommodation & Food services
is expected to grow by 17% and add 1.8 million new jobs through 2014. The
concentration will be in food services and drinking establishments,
reflecting increases in population, dual-income families, and dining
sophistication.
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Financial Activities
Employment is projected to grow by 11% overall, adding millions of jobs. In
areas such as finance, insurance, securities, commodity contracts, and other
financial investments and related activities is expecting strong growth as
the baby boom generation enters into their peek earnings and savings years.
Activities relating to real estate will grow by over 30% reflecting the
increased demand for housing with the growing population as well as the
housing boom that still persists in the U.S.
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Trade, Transportation & Utilities
Overall employment in this industry super-sector is expected to grow by 10%.
Industries included are transportation & warehousing (12% expected
growth); truck transportation (10%); and warehousing & storage is
projected to grow rapidly (25%). Demand for truck transportation and
warehousing services will expand as many manufacturers concentrate on their
core competencies and contract out those other functions. Employment in the
retail trade is expected to add 1.7 million new jobs through 2014 and
wholesale trade is expected to add 400,000. Increases in population, personal
income and leisure time will contribute to employment growth in the trade
industry. Employment in utilities is expected to decline slightly. Despite
increased output in electric power generation, transmission and distribution
(as well as natural gas distribution), technology has been able to increase
worker productivity lessoning the demand for more jobs. However, water, sewage
and other systems is projected to grow by 21%, as these jobs are not easily
eliminated by technological gains as they are very labor-intensive
activities.
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Government
Government employment is expected to add 2.2 million jobs, or show a 10%
growth. This will be fueled at State and local educational services and a
shift in the responsibilities away from the federal government to the state
and local level. Jobs will be added in >Education; Criminal Justice; disciplines
and Healthcare and Human Services.
In Summary, the healthcare field will see the highest
percent growth. With the aging baby boom population, more medical professionals
will be needed to manage the health and related administrative needs of this
generation.
Teachers, teacher assistants or those in the Education industry in general will
see a strong demand due to the growing population in the younger generation
being born over the past ten years. Registered Nurses and Medical Assistants
are expected to add almost one million jobs alone. Business, management and
finance degrees are always one of the most practical postsecondary forms of
education since their applications are so far-reaching.
