Health care and social assistance to have largest share of total employment by 2024
DECEMBER 31, 2015:
The health care and social assistance industry is projected to increase its share of total wage and salary employment to 14.5 percent by 2024, up from 12.8 percent in 2014 and 10.8 percent in 2004.
The share of employment represented by professional and business services is also projected to increase, rising from 12.3 percent in 2004 and 13.5 percent in 2014 to 13.9 percent in 2024.
The share of total wage and salary employment represented by manufacturing is projected to decline in the coming period, falling from 10.7 percent in 2004 and 8.6 percent in 2014 to 7.6 percent in 2024. The decline in manufacturing’s employment share is the largest of any industry sector for the 2014–24 period.
For more information, see “Industry employment and output projections to 2024” by Richard Henderson in the December 2015 Monthly Labor Review.
Visit Employment Projections for the 2014–24 news release and related data.
Employment projections by occupational group 2014–24
DECEMBER 30, 2015
Between 2014 and 2024, U.S. employment is projected to increase by about 9.8 million – equal to a growth rate of 6.5 percent.
Healthcare support occupations and healthcare practitioners and technical occupations are projected to be the two fastest growing occupational groups, adding a combined 2.3 million jobs, about 1 in 4 new jobs.
Healthcare practitioners and technical occupations are expected to grow 16.4 percent adding 1,348,100 jobs over the 10-year span.
They also were among the highest paying occupations with 2014 median annual wages of $61,710.
Healthcare support occupations are expected to add 974,200 jobs (+23.0 percent) and had a 2014 median wage of $26,440.
In 2014, management occupations were the highest paying occupational group with a median annual wage of $97,230. These occupations are expected to add 505,400 jobs (+5.5 percent) over the next 10 years.
Computer and mathematical occupations were the next highest paying group with a median wage of $79,420. They are also projected to be among the largest sources of job growth, adding 531,400 jobs from 2014 to 2024, an increase of 13.1 percent.
Food preparation and serving related occupations ($19,130) and personal care and service occupations ($21,260) were the lowest paying occupational groups.
Farming, fishing, and forestry occupations (-5.9 percent) and production occupations (-3.1 percent) are the only occupational groups projected to lose jobs. Both of these groups also had median wages that were lower than the median wage of $35,540 for all workers in 2014.
For more information, see “Occupational employment projections to 2024” by Andrew Hogan and Brian Roberts in the December 2015 Monthly Labor Review. VisitEmployment Projections for the 2014–24 news release and related data.
Health care and social assistance to have largest share of total employment by 2024 : The Economics Daily: U.S. Bureau of Labor Statistics
Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Health care and social assistance to have largest share of total employment by 2024 on the Internet athttp://www.bls.gov/opub/ted/2015/health-care-and-social-assistance-to-have-largest-share-of-total-employment-by-2024.htm (visited December 31, 2015).