A new federal report projecting employment over the next decade shows that healthcare and social assistance is expected to have the largest growth and be the fastest-growing industry sector between 2023 and 2033.
Employment growth in the field — anticipated to be 1% annually over the period — will be driven by an aging population and more patients with chronic conditions, such as heart disease, cancer and diabetes, according to the new Employment Projects report from the U.S. Bureau of Labor Statistics (BLS). As a result, healthcare support occupations and healthcare practitioners and technical occupations are expected to grow 15.2% and 8.6%, respectively, from 2023 to 2033.
Demand for information workers is expected to increase 0.7% annually, as consumers’ appetite for information technology products and services in areas such as computer systems design services, data processing and software, artificial intelligence and cybersecurity remains strong, BLS says. The demand will feul a 12.9% growth among computer and mathematical occupations.
The utilities field is projected to see a 0.6% annual increase, sparked by demand for electricity related to electric vehicles and new data centers, as well as a shift towards renewable energy, such as solar, wind and geothermal, BLS says.
Construction and extraction occupations and jobs in installation, maintenance and repair expect to see a 5.8% and 5.3% annual increase, respectively. These include two renewable energy-related jobs — wind turbine service technicians and solar photovoltaic installers, which are projected to be the fastest-growing occupations over the next decade. However, the two occupations are expected to add fewer than 20,000 jobs combined.
Retail trade is the only sector projected to decline (-0.2% annually) as e-commerce continues to affect in-person sales at brick-and-mortar stores, the report adds. However, the boost in online buying is driving the growth in the transportation and warehousing sector (0.6% annually) as companies ship goods directly to consumers.
Despite the overall growth, the total employment rate over the next decade will cool to 0.4% annually, down from the 1.3% annual growth rate over the 2013-23 decade. The slowdown is a result of continued slower growth in the U.S. population, with older age groups who are less likely to be working projected to see the fastest growth.
In conjunction with the new report, BLS also released new work skills data by occupation. It provides 17 skills categories, ranging from adaptability to writing and reading.
