Last month, the Bureau of Labor Statistics released its 10-year employment projection data. This data is updated every other year. The new data shows a projected increase over the next decade of 7.4% which is a noticeable increase over the previous 6.5% 10-year projections in 2014. These projections are not so much driven by economic growth as population growth. Implicit in the forecast are assumptions about future fertility and mortality rates of the U.S. population. Also included are assumptions about immigration, the most uncertain but important factor affecting the size of the future labor force.
BLS produces occupational employment projections by analyzing current and projected future staffing patterns (the distribution of occupations within an industry) in an industry−occupation matrix. Changes in the staffing pattern for each industry are projected and applied to the final industry projections, yielding detailed occupational projections by industry. Employment growth is projected for nearly all occupational groups, from healthcare to transportation occupations. The only occupational group projected to decline from 2016 to 2026 is production occupations, at a rate of 4.1 percent.
The Degree-to-Jobs Interactive leverages these employment projections as part of this unique program planning tool. The updated 2016 projections will be incorporated into the Degree-to-Jobs Interactive shortly. The data is now also available for free for registered users to browse in Data Browser.
The BLS Employment Projections has some new information that we will spend the new few weeks discussing. Note there will be no Weekly Insights next week for the Thanksgiving holiday.