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Employment growth to slow over the coming decade: BLS

October 07, 2019

Employment growth will be slower during the upcoming decade, 2018-2028, but healthcare jobs are projected to represent 18 of the 30 fastest-growing occupations, according to an article by the US Bureau of Labor Statistics.

It forecast an annual growth rate in employment of 0.5% between 2018 and 2028; that’s slower than the annual growth rate of 0.8% between 2008 and 2018.

Causes of the slower growth include slowing population growth and demographic changes.

It also forecast US gross domestic product will grow 1.8% annually through 2028.; the same rate as the 2008-2018 decade.

The healthcare and social assistance sector will account for more than 40% of new jobs added by 2028.

“Over 90% of employment growth from 2018 to 2028 is projected to be in the service-providing sectors,” according to the article. “Occupations that provide healthcare or services related to healthcare are projected to make up most of the fastest-growing occupations. An aging population is projected to demand more healthcare and related services. In addition, the number of people with chronic conditions is projected to continue to grow, adding to the demand for health-related occupations.”

Other occupations expected to grow rapidly include those involving computers and math as well as those involving alternative energy.

Occupational groups expected to lose jobs include production occupations, office and administrative support, and sales and related occupations.

The article, “Projections overview and highlights, 2018-28” is written by Kevin Dubina, Teresa Morisi, Michael Rieley and Andrea Wagoner. It appeared in the US Bureau of Labor Statistics’ Monthly Labor Review.