Construction, Health Care Jobs to Grow Fastest Through 2022: BLS
The agency's latest labor force and employment projections assume the economy will have reached full employment by that year.
The U.S. Bureau of Labor Statistics' Monthly Labor Review has reported on the agency's latest release of labor force, output, and employment projections, this one covering the 2012–2022 period. BLS publishes these every two years, and this one extrapolates from the economic recovery that is now under way; it assumes the U.S. economy will have reached full employment by 2022.
Labor force growth will slow to 0.5 percent annually as participation rates decrease among younger and prime-age workers and as more baby boomers leave the labor force, the agency forecasts, and this slowing will limit potential growth in gross domestic product to an annual projected rate of 2.6 percent.
While total employment is expected to grow by only 1.0 percent annually, the fastest job gains will be in the construction industry and the health care and social assistance sector. These are projected to add a combined 5.3 million jobs -- about one-third of all employment gains during the decade, according to BLS.