Bureau of Labor Statistics: NEW 10 Year Projections (2022-2032)
In career counseling, we pay close attention to career growth and trends. Every 10 years, projections are released which in my practice is critical for my clients as they make informed career pathway decisions, especially if money is a career value. It also allows a person to easily parlay into a career because there are jobs!
The Bureau of Labor Statistics released a report a couple of years ago (2022) for trends to pay attention to through 2032. For my clients, your aptitude portal where your career selections are was updated last month so I'd recommend reviewing your careers with respect to growth or declines. Here is a report if you'd like to learn more.
A few highlights to share include:
1. The U.S. economy is projected to add almost 4.7 million jobs from 2022 to 2032, the U.S. Bureau of Labor Statistics (BLS) reported. Total employment is projected to increase to 169.1 million and grow 0.3 percent annually, which is slower than the 1.2-percent annual growth recorded over the 2012−22 decade.
2. The health care and social assistance sector is projected to not only grow most rapidly of any sector, but it is also projected to create about 45 percent of all the projected job gains from 2022 to 2032. Various healthcare occupations that are involved with the increased care of the aging population are projected to experience large and rapid employment increases. Home health and personal care aides, nurse practitioners, and medical and health services managers are three occupations that are projected to experience both large increases in employment and rapid growth.
3. The computer and mathematical occupational group is also projected to experience much faster than average employment growth. The expanding digital presence of businesses and consumers will produce a massive amount of data that these workers collect, organize, analyze, and protect. Employment in occupations such as data scientists, statisticians, and information security analysts is projected to grow more than 11 times the average rate.
4. The computer systems design and related services industry is the eighth fastest growing industry, growing at a rate of 1.8 percent annually over the 2022−32 decade. This industry is also seen adding 474,800 jobs over the projections period, the second most of any industry. Employment opportunities in the computer systems design and related services industry are expected to arise because of demand for information technology and cybersecurity products and services. The marked increase in the number and severity of cyberattacks and data breaches on U.S. businesses is expected to lead to greater demand for cybersecurity products and services. This increase, in turn, will fuel demand for the information security analysts (AKA: Cybersecurity) occupation, which is projected to grow 31.5 percent over the 10-year period between 2022 and 2032, making it the fifth fastest growing occupation in the economy.
5. Growth in e-commerce is expected to drive employment growth in the transportation and warehousing sector. BLS projects this sector to grow 0.8 percent annually from 2022 to 2032, adding close to 570,000 jobs over that period. The couriers and messengers industry together with the warehousing and storage industry account for about 80 percent of this sector’s projected job growth.
6. The manufacturing sector is projected to lose 113,400 jobs over the 2022−32 decade as manufacturers continue to automate processes to improve production efficiency and throughput. However, stronger demand for electric vehicle batteries and energy battery storage systems is expected to result in rapid employment growth in battery production. That growth is evident in the other electrical equipment and component manufacturing industry, which is the manufacturing industry with the fastest growth at a rate of 3.0 percent annually over the projections period, gaining 52,700 jobs over the decade.
7. As healthcare facilities increasingly use team-based healthcare models, demand will increase for nurse practitioners (44.5-percent growth) and physician assistants (26.5-percent growth) to provide patient care that would otherwise be provided by a doctor. Nurse practitioners also have the largest projected job growth for occupations that typically require a master’s degree.
8. The expanding digital presence of businesses and consumers alike is expected to result in a significant increase in the volume of data generated. Employment of data scientists, statisticians, actuaries, and operations research analysts are each projected to grow more than 20.0 percent as demand surges for workers who can model, interpret, and analyze the ever-growing amount of data.
9. As renewable energy generation expands due to lower production costs, government policies, and technological advancements in renewable energy infrastructure and battery storage, demand for the occupations tied to their operation will expand as well. Employment of wind turbine service technicians is projected to grow 44.9 percent from 2022 to 2032, the fastest growth of any occupation for the projections decade, while solar photovoltaic installers are projected to grow 22.3 percent. However, because these are small occupations, the fast projected growth is expected to result in only about 5,000 new jobs for wind turbine service technicians and about 6,600 new jobs for solar photovoltaic installers over the projections decade.
The Occupational Outlook Handbook (OOH) includes information about more than 500 detailed occupations in over 300 occupational profiles, covering about 4 out of 5 jobs in the economy plus it's FREE. If you are struggling to make a career decision, we are here to help!
Reeder Consulting: College and Career Paths is a specialist in the career development field and the number one career counseling company in San Antonio, TX working with clients in all 50 states. We help individuals engage in career and aptitude testing to process information through meaningful conversations and give clarity to the stress of career decisions to Proceed with Confidence. www.reederconsulting.com
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