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BLS forecasts 14.3% job growth during the decade

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According to employment projections for the 2010-20 decade, the U.S. Bureau of Labor Statistics is predicting a 14.5 percent rise in total employment, resulting in 20.5 million new jobs.

The Feb. 1 news release focused on five areas: labor and the macroeconomy, industry employment, occupational employment, education and training, and replacement needs.

Labor force and the macroeconomy
The civilian labor force is expected to grow by 0.7 percent annually, reflecting a slower population growth and decreasing overall labor force participation rate. As the baby boomer generation moves entirely to age 55 or older, that group's labor force is expected to grow to 25.2 percent in 2020 from 19.5 percent in 2010.

Industry employment
Nonagriculture wage and salary employment, which accounts for more than 9 in 10 jobs in the economy, is projected to grow to 150.2 million by 2020, up from 130.4 million in 2010. Construction, retail trade and health care are projected to add the most jobs, about 5 million, while the manufacturing sector and the federal government are expected to lose the most. The U.S. Postal Service is projected to lose 182,000 jobs, federal nondefense government jobs are expected to drop by 122,000 and jobs in apparel knitting mills are projected to decrease by 92,000, according to the release.

Occupational employment
The health care, personal care and social assistance, and construction industries are expected to have the fastest growth, though construction is not expected to regain all of the jobs lost during the recession. Registered nurses is the occupation group expected to add the most jobs, 712,000; following by retail salespersons, 707,000; home health aides, 706,000; and personal care aides, 607,000.

Education and training
The latest decade projection uses a new BLS system that factors in education, training and related work experience. In occupations requiring a master's degree, employment is expected to grow by 21.7 percent, the fastest growth rate for any of the education categories. A 22.5 percent growth rate is expected to occur for occupations in which apprenticeships are the typical on-the-job training.

Replacement needs
During the decade, the BLS projects 54.8 million total job openings. More than half of that figure would come from the need to replace workers who retire or otherwise permanently leave their occupations.  More than two-thirds of the openings are expected in occupations that don't require postsecondary education for entry.[[In-content Ad]]

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