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Emerging Job Markets - USAA Member Community

 

When selecting a career field, we hope what we choose has some longevity in it. We want to know we can remain in a particular line of work for the long haul. In most cases, we want to know we can work in this field until we choose to retire.

 

But, how do you choose? Where do you go in order to find out the predictions for the future in the jobs market? Which are the emerging job markets?

 

Although there’s no crystal ball available to accurately provide the answer, we do have some government agencies looking into all the facts, figures, and fiscal trends in various industries. The U.S. Bureau of Labor & Statistics (BLS) is one such clearing house for this important data. You might find this information helpful in providing clues as to which industries and careers might experience massive growth potential in the years to come.

 

I spent some time exploring the BLS website and found some interesting projections that extend to the year 2020 and beyond. Can you guess which industries appear to show a bright employment future?

 

If you guessed healthcare and social assistance sector, you got the right answer.

 

According to the BLS Overview of projections to 2024:

 

Demand for healthcare also will impact occupational employment growth, with healthcare practitioners and technical occupations (16.4 percent) and healthcare support occupations (23.0 percent) expected to grow much faster than the average rate of 6.5 percent for all occupations, adding 2.3 million jobs by 2024.


Guess what? The Baby Boomers need more healthcare workers to help make their Golden Years the best ever.

 

With all the changes, upgrades, legislation, and restructuring within the healthcare arena, you can count on an increased need for healthcare workers to address these unmet medical needs. And, there’s increasing focus on leveraging technology while reducing cost in healthcare. This means medical care will soon extend to the patient’s home and connectivity with Doctors and Nurses will be the standard.

 

In my opinion, if you’re looking for a career with a long-term level of employability, healthcare is a solid choice! If you’re a bit “tech-savvy” those skills can take you far as healthcare will rely on the interoperability of not only hospital-based technology, but consumer-level technology too.

 

Ok, so maybe you don’t see yourself working in a hospital and on the front lines of healthcare. What to do?

 

Remember, healthcare extends outside the four walls of the hospital and lots of careers exist in this space. Again, the BLS report provides some clues as to which career make sense in the coming years:

 

Other occupational groups expected to grow much faster than average include personal care and service occupations (13.2 percent) and computer and math occupations (13.1 percent).

 

Let’s focus on just one of these, personal care.

 

Remember those Baby Boomers I mentioned earlier? As these young-at-heart Americans become retirement age and beyond, they require assistance with activities of daily living. You could start a career helping our Elders by making home visits, running errands for them, or assisting them with tasks around the house that have become too difficult due to physical demands.

 

For an example of a personal care career, check out this link.

 

Oh by the way, personal care careers can be expected to grow by 26% by the year 2024!

 

Finally, it appears as though we need more places to live, better, roads, and taller buildings. As such, more careers will pop up within the next few years according to the BLS:

 

The construction sector and the occupations that support it are projected to add the majority of jobs in the goods-producing sector. Despite this growth, employment levels in this sector are not expected to reach those attained before the most recent recession.

 

Before I close this out, it might be good to see which career fields show projections that suggest a decline over the next decade or so:

 

Although most sectors of the economy are expected to grow, employment in manufacturing, federal government, and agriculture are projected to decline. These sectors are expected to shed a combined 1.3 million jobs by 2024.

 

I’m sure several reasons exist for these declines. You might wish to share your thoughts below on these projections.

 

I hope this helps you plan for your future career as a Veteran entering the work world of the future.

 

What do you think?

 

Source:

Bureau of the Labor of Statistics - Overview of projections to 2024

 

 

 

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