Thursday, December 17, 2009

Better news about tech jobs growth if you can wait

Y our tech job is going to look safer in the next decade - finally!

Even with unemployment at 10%, some industries like professional service and health care will grow in the years ahead, according to a report released Dec. 10 by the Bureau of Labor Statistics and reported by CNN.com.

Professional/business services and health care/social assistance are expected to have the largest employment growth from 2008 to 2018, the Labor Department said.

Professional and business services will add 4.2 million jobs over that 10-year period while health care will increase its employment by 4 million.

Within professional and business services, consulting, computer systems design and employment services will have the most growth.

In the health care and social assistance industry, the top gainers are home health care, services for the elderly and those with disabilities, nursing care facilities and employment in offices of physicians.

Shift toward services continues
Meanwhile, the long-term shift of employment from the goods producing to the service-producing sector is expected to continue.

Within the goods-producing sector, the largest declines will be among manufacturers of semiconductors, with a loss of 146,000 jobs, and motor vehicle parts, which is expected to lose 101,000 jobs.

By 2018, the goods-producing sector is expected to account for only 12.9% of total jobs, down from 14.2% in 2008. Alternatively, the service-producing sector will account for 78.8% of total jobs, up from 77.2% in 2008.

The Labor Department's projections also show an aging and more racially and ethnically diverse labor force in the years ahead.

Altogether, total employment is projected to increase by 15.3 million, or 10.1%, during the 2008-18 period, the Labor Department said. Projections are updated every two years.

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