Biggest Employment Sector in 2024? Health Care

Of the 9.3 million projected new service-sector jobs by 2024, 3.8 million will be added to the health care and social assistance major sector, which will overtake the state and local government major sector and the professional and business services major sector to become the largest overall.

  • Dec 14, 2015

The U.S. Bureau of Labor Statistics predicts that health care occupations and industries will add the most jobs between 2014 and 2024 and will be the largest employment sector in the United States at the end of that period. BLS reported the estimates Dec. 8, saying the economic growth it projects will generate 9.8 million new jobs between 2014 and 2024, and service sectors will capture 94.6 percent of those jobs.

The projections are based on assumptions including a 5.2 percent unemployment rate in 2024 and labor productivity growth of 1.8 percent annually during the period; the median age of the labor force will continue to rise throughout. According to BLS, it was 37.7 in 1994, 40.3 in 2004, 41.9 in 2014, and is projected to be 42.4 in 2024.

Of the 9.3 million projected new service-sector jobs, 3.8 million will be added to the health care and social assistance major sector, which will overtake the state and local government major sector and the professional and business services major sector to become the largest overall.

BLS predicts construction will add 790,400 jobs by 2024. "Even with these additional jobs, employment in the construction major sector is not projected to return to the 2006 peak," according to its news release. Manufacturing employment, meanwhile, is predicted to fall at a 0.7 percent rate annually, "a more moderate decline than the 1.6 percent rate experienced in the prior decade," it says.

And BLS says some level of postsecondary education is usually required for entry into 11 of the 15 occupations it projects will grow fastest.

Product Showcase

  • Full Line of Defense Against Combustible Dust Nilfisk

    Nilfisk provides a comprehensive range of industrial vacuums meticulously crafted to adhere to NFPA 652 housekeeping standards, essential for gathering combustible dust in Class I, Group D, and Class II, Groups E, F & G environments or non-classified settings. Our pneumatic vacuums are meticulously engineered to fulfill safety criteria for deployment in hazardous surroundings. Leveraging advanced filtration technology, Nilfisk ensures the secure capture of combustible materials scattered throughout your facility, ranging from fuels, solvents, and metal dust to flour, sugar, and pharmaceutical powders. Read More

  • SECUPRO MARTEGO

    FOR HIGHEST DEMANDS. A cutting tool in which function and design go hand in hand. Meet the SECUPRO MARTEGO, our prize-winning squeeze-grip safety knife with fully automatic retractable blade for safety. • Ergonomically friendly trigger mechanism to engage the blade • Durable body made of aluminum • Safer alternative to fixed blade utility knives for general cutting tasks • 9 mm Cutting depth • Easy, tool free blade change Dimensions: L 6.10" L x 0.71" W x 1.91" H Weight: 3.70 oz Cutting Depth: 9 mm Read More

  • Glove Guard® Clip

    Safety should never be compromised, especially when it comes to proper glove usage. The Glove Guard® clip enhances safety by encouraging employees to keep their gloves with them at all times. This reduces the risk of accidents and injuries on the job. By ensuring everyone has their gloves readily available, we help promote a culture of safety and efficiency. The Glove Guard® clip is designed to withstand the toughest work environments. Constructed from robust materials made in the USA, it can endure extreme conditions, including harsh weather, and rigorous activities. Read More

Featured

Most   Popular

Artificial Intelligence