The US Department of Labor forecasts can be a very useful tool in determining what career paths or areas of specialization to focus on for your studies and future career. Below we outline some of the fastest growing sectors that you may take advantage of with an appropriate degree and focus.
One of the most important stats is that for 12 of the 20 fastest growing occupations in the country between 2006 and 2016 an associates degree or higher is the most important level of education or training. It’s extremely valuable to have a postsecondary degree in the labor market!
Service Industry – 2006 to 2016 Forecast
- Health Services - Because of aging demographics in the US based on lower population growth rates, the healthcare and social assistance industry is projected to increase about 25% between 2006 and 2016 according to the US Bureau of Labor Statistics. That equates to roughly 4 million new jobs
- Education Services - The public and private education services industry is expected to increase over 10% between 2006 and 2016 and add about 1.4 million jobs. This is due to growing numbers of enrollment at all levels of education – the very reason you’re here!
- Employment Services - This industry of seasonal and temporary workers and human resource services will be responsible for just under 700,000 new jobs in the 2006 to 2016 time period, and ranks second amongst industry segments with new employment opportunities.
- Computer Systems Design and related services will grow over 38% between 2006 and 2016.
- Leisure and Hospitality - This sector will grow over 11% over the ten year period of 2006 to 2016. Arts, entertainment and recreation will increase by 31% and accommodation and food services will see gains of 11%.
- Financial Activities - Though overall this segment will see 14% growth, the property management and appraisal services alone will grow by 29 percent between 2006 and 2016.
- Automotive repair and maintenance will be the quickest growing at around 41% based on demand for the ever-increasing number of automobiles on US roads.
oods-Producing Industry – 2006 to 2016 Forecast
Growth in these industries has been relatively flat since the 1980s, save these industries:
- Pharmaceutical and Medicine manufacturing is expected to grow by 24%.
- Household appliance manufacturing to grow at 26%.
Occupation Industries – 2006 to 2016 Forecast
The outlook for the Occupation Industries looks strong, with many individual sectors projecting strong growth:
- 17% increase in the number of professional and related jobs. Most of this growth is coming from computer and math occupations, healthcare practitioners and education and training occupations, adding at total of 3.5 million jobs.
- Healthcare support and personal care and services is thought to grow 27%.
- Social and community service manager positions will increase by 25%.
- Gaming managers will grow 24%.