We all know that the job market is in a state of change thanks to changes in technology, automation, and the aging population. There will be jobs lost and jobs gained. But what will those jobs be?
I looked at the very informative Bureau of Labor Statistics website for some answers.
The chart below shows a list of the fasting growing occupations, and includes some jobs that pay well, but it doesn’t tell how many of each. However if you click on the occupation you can get more information.
For example, https://www.bls.gov/ooh/installation-maintenance-and-repair/wind-turbine-technicians.htm tells us that this position is growing by about 1900 jobs per year. However, not many people would want this job. “Wind turbine service technicians generally work outdoors, in confined spaces, and often at great heights. Although the majority of windtechs work full time, they may also be on call to handle emergencies during evenings and weekends”. I know a couple whose husband has this job. They literally only see each other a few times per year because of the travel.
|OCCUPATION||GROWTH RATE, 2021-31||2021 MEDIAN PAY|
|Nurse practitioners||46%||$120,680 per year|
|Wind turbine service technicians||44%||$56,260 per year|
|Ushers, lobby attendants, and ticket takers||41%||$24,440 per year|
|Motion picture projectionists||40%||$29,350 per year|
|Cooks, restaurant||37%||$30,010 per year|
|Data scientists||36%||$100,910 per year|
|Athletes and sports competitors||36%||$77,300 per year|
|Information security analysts||35%||$102,600 per year|
|Statisticians||33%||$95,570 per year|
|Umpires, referees, and other sports officials||32%||$35,860 per year|
|Web developers||30%||$77,030 per year|
|Animal caretakers||30%||$28,600 per year|
|Choreographers||30%||$42,700 per year|
|Taxi drivers||28%||$29,310 per year|
|Medical and health services managers||28%||$101,340 per year|
|Logisticians||28%||$77,030 per year|
|Physician assistants||28%||$121,530 per year|
|Solar photovoltaic installers||27%||$47,670 per year|
|Animal trainers||27%||$31,280 per year|
|Physical therapist assistants|
$61,180 per year
The next chart tells another part of the job story. According to the Bureau of Labor Statistics Occupational Outlook Handbook’s list of 20 Occupations with the most new projected jobs for 2021-2031, there will be approximately 4,230,400 new jobs in these 20 occupations.
Last Modified Date: Thursday, September 8, 2022
I did the math and found that from the second chart, the total number of the top 20 listed jobs is 4,230,400. Of these, over half, 2,733,000 jobs pay less than $38,280 per year. Then there are 436,600 jobs that pay between $48,310 and 77,600, which would be considered middle class for a single income family. There are a little over 1,000, 000 jobs projected in the $93,000 to 131,710 salary category of which most of these are managerial and professional positions including nurse practitioners and a large number of software developers.
|Salary||Number of Jobs|
Labor force Projections
The BLS website states that 8.3 million jobs are projected to be created over the next ten years which is less than the previous decade due to a lower fertility rate and reduced immigration numbers. While many people over 65 are expected to leave the labor force, many older workers are also expected to continue working and enter the workforce.
Which jobs will be growing and shrinking?
Retail jobs are expected to continue to decline due to online shopping. Leisure and hospitality, business and technical, and healthcare-related jobs will increase. However, jobs that can easily be automated will decline.
Three occupational groups–office and administrative support occupations, production occupations, and sales and related occupations–are projected to lose jobs over the 2021–31 decade. Sixteen of the 20 occupations with the largest declines in employment levels over 2021–31 are classified in one of these three groups. The automation of tasks is a main factor behind the projected employment declines of many of these occupations. Cashiers, whose tasks can largely be replaced by self-checkout, is projected to lose the most jobs of all occupations, while word processors and typists is projected to experience the sharpest drop in employment over the projections period.https://www.bls.gov/news.release/ecopro.nr0.htm