DeSERANNO News

Vol. , Issue May 2012

FINANCIAL ARTICLES

Where the Jobs Will Be

Do you think you might be finding a new job in the next several years? Well, health care is a good place to look. Someplace that is not so good? The U.S. Postal Service.

The U.S. Bureau of Labor Statistics predicts that the country will add 20.5 million new jobs between 2010 and 2020. But not every profession will benefit from the employment growth, according to the BLS.

The largest number of those new jobs – 5.6 million – is predicted to be in the health care industry. The BLS also expects to see robust growth in professional and business services, 3.8 million new jobs; construction, 1.8 million; retail, 1.8 million; state and local government, 1.6 million; and leisure and hospitality, 1.3 million.

The BLS expects moderate growth in educational and other services, with each expected to add 819,000 new jobs, as well as transportation and utilities, 817,000 jobs; financial activities, 780,000; and wholesale trade, 740,000.

Information and mining are expected to add only 140,000 and 25,000 jobs, respectively. And manufacturing and the federal government are expected to lose jobs: 73,000 in manufacturing and a whopping 372,000 in the federal government.

The aging of the baby boom generation is one of the major factors influencing the expected increase in health care-related employment. In addition, the gradual retirement of baby boomers will help fuel overall employment, as workers are needed for the jobs that baby boomers leave.

Specifically, the BLS expects the top 15 fastest-growing jobs to be:

  1. Registered nurses
  2. Retail salespersons
  3. Home health aides
  4. Personal care aides
  5. General office clerks
  6. Food preparation and service, including fast food
  7. Customer service representatives
  8. Heavy and tractor-trailer truck drivers
  9. Laborers and freight, stock and material movers
  10. Postsecondary teachers
  11. Nursing aides, orderlies and attendants
  12. Childcare workers
  13. Bookkeeping, accounting and auditing clerks
  14. Cashiers
  15. Elementary school teachers, except special education.

On the other side of the coin, the 10 occupations expected to see the largest decline through 2020 are:
  1. Farmers, ranchers and other agricultural managers
  2. Postal Service mail sorters, processors and processing machine operators
  3. Sewing machine operators
  4. Postal Service mail carriers
  5. Switchboard operators
  6. Postal Service clerks
  7. Fast food cooks
  8. Miscellaneous agricultural workers
  9. Data entry keyers
  10. Word processors and typists.

Photo: iStockphoto.com