The Economic Perspective: “Jobs in the Next Decade”

Mary:  I’m Mary Walden with economist MW welcoming you to the economic perspective. Today’s program looks at the next decade. Mike, the federal government’s Bureau of Labor Statistics just released their national job forecasts for the next decade.  Give us the highlights of the report.

 

Mike: Summary Answer

  • Good news – did predict total job growth – 6 million net new jobs created between 2019 and 2029
  • However, that is a very slow pace – annual growth rate of 0.4% compared to 1.3% for 2009-2019
  • One reason:  slower growth in the labor force, with more non-working elderly and a low birth rate curtailing growth of new workers
  • In terms of types of jobs, fastest growth for health care fields, energy, and information analysis
  • Recognize just one forecast – and hard to factor in changes in technology
  • I’m MW

 

Mary:  And I’m Mary Walden for the Economic Perspective, an NC State Extension program from the Department of Agricultural and Resource Economics.