Decoding the Future: Top Industries & Occupations for 2022-32
Every year we review the latest employment projections from the Bureau of Labor Statistics (BLS). For those of us advising people making career and education decisions, it is a time to reflect on what’s changed so we can update our advice. Let’s take a look at the data in a meaningful way for your practice and programs.
Macro-economic trends drive the future labor market: demographic characteristics (like how old people are), how many people are working (labor participation), the skills they have, economic performance of industries and businesses, technological advances, etc. Layer the COVID pandemic and Generative AI on top of that and you get more rapid changes than ever before.
Top High Growth Occupations 2022-2032
Spotlight: Growth Sectors
Healthcare and Social Assistance: The U.S. (and developed countries) are seeing a demographic shift. The population is aging, and the prevalence of chronic conditions is increasing. It's no surprise, then, that this sector is predicted to be a juggernaut in employment opportunities, accounting for a staggering 45% of all new jobs.
Professional, Scientific, and Technical Services: Our increasingly digitized world requires more advanced IT products and services. As we become more interconnected and businesses leverage technology (see Generative AI) to drive efficiency and innovation, the demand for experts in these fields will soar.
Digital Economy Boost: People are buying online and using retail physical stores in different ways. The surge of online platforms and tools has catalyzed job growth in information and transportation and warehousing sectors. As more businesses transition online and e-commerce continues its rise, these sectors will be pivotal in sustaining our digital-first approach.
Sectors to Watch Out For: Expected Declines
Manufacturing: The manufacturing landscape is undergoing a seismic shift. Automation technologies are streamlining production processes, leading to a projected decline in employment. However, it's not all gloom; niches like battery and semiconductor production are rays of hope.
Utilities: The winds of change are blowing in the utilities sector. As the world grapples with environmental challenges, the transition from fossil fuels to green energy becomes a greater priority. While some traditional utilities jobs might see a decline, those aligned with green energy innovations are projected to flourish.
For users of Career Key Discovery, they will automatically see the new job outlook and median salary.
In my next post, I will dive into Holland personality types and Career Key work groups most impacted by these updates. (Hint: our new work groups of Conventional, Enterprising, and Investigative careers and programs look promising!) 😊
