BLC Report on Future Jobs

[MTI]

Bureau of Labor Statistics Projections for 2008-2018 US Job Markets

Total employment is projected to increase by 15.3 million, or 10.1 percent,
during the 2008-18 period, the U.S. Bureau of Labor Statistics reported today.

The projections show an aging and more racially and ethnically diverse labor
force, and employment growth in service-providing industries.

More than half of the new jobs will be in professional and related occupations and service occupations.

In addition, occupations where a postsecondary degree or award is usually required are expected to account for one-third of total job openings during the projection period.

Job openings from replacement needs--those which occur when workers who retire or otherwise leave their occupations need to be replaced are projected to be more than double the number of openings due to economic growth.

"In addition, occupations where a postsecondary degree or award is usually required are expected to account for one-third of total job openings during the projection period."

Everyone needs to show that part to their kids. If you want to be competitive, you will need unique skills that are in demand.

[dynalow]

Originally Posted by Craig

"In addition, occupations where a postsecondary degree or award is usually required are expected to account for one-third of total job openings during the projection period."

Everyone needs to show that part to their kids. If you want to be competitive, you will need unique skills that are in demand.

Spot on there.... and I might add, also to every member of every BOE in the country. Beginning in the largest and bluest cities and states. Newark, Detroit, the usual suspects.

I also predict nothing of any sort (of meaningful educational reform) will occur in the next (fill in your own number here. Mine is..) 20 years. I do think history's on my side. How many trillions of $$'s have been poured into public education in the last half century with negative results.

I didn't look at the link. How much job growth is predicted in manufacturing?

Originally Posted by dynalow

I didn't look at the link. How much job growth is predicted in manufacturing?

"Goods-producing employment, as a whole, is expected to show virtually no growth. While employment in the construction industry is projected to increase by 1.3 million, declines in manufacturing (-1.2 million) and mining (-104,000) will nearly offset this growth. By 2018, the goods-producing sector is expected to account for 12.9 percent of total jobs, down from 17.3 percent in 1998 and 14.2 percent in 2008."

[dynalow]

Originally Posted by Craig

"Goods-producing employment, as a whole, is expected to show virtually no growth. While employment in the construction industry is projected to increase by 1.3 million, declines in manufacturing (-1.2 million) and mining (-104,000) will nearly offset this growth. By 2018, the goods-producing sector is expected to account for 12.9 percent of total jobs, down from 17.3 percent in 1998 and 14.2 percent in 2008."

I think I heard last week a number of lost jobs in construction since 2008 to be on the order of 4 million or so. Is that right? So, if we lose 4 million yet replace only 1.3, what do the other 3 million now ex-construction workers do?

There is a term now gaining some notoriety: "99ers" It refers to a person who has run out the string of 99 weeks of unemployment benefits. There's a whole bunch of new 99ers coming up in the fall of 2010, two years after the first pile of $hit hit the fan in late 2008. I'm afraid the term of the future will be "99-fiver" aka someone out of work for 10 years. There will be some of those.

Originally Posted by dynalow

I think I heard last week a number of lost jobs in construction since 2008 to be on the order of 4 million or so. Is that right? So, if we lose 4 million yet replace only 1.3, what do the other 3 million now ex-construction workers do?

Hopefully, the old economy jobs losses will be slow enough to be handled by retirements; if not, these guys are going to have to learn a more marketable skill. The real message is for the next generation to avoid these fields.