Looking ahead…
Where the Jobs Are
The latest reports from the U.S. Department of Labor's Bureau of Labor Statistics, has some very interesting predictions for future shifts in the world of work.
Rapid Expansion
The top ten fastest growing job prospects to year 2014 are forecasted by the Bureau of Labor Statistics, by job title in the order that follows.
1. Home health aides
2. Network systems and data communications analysts
3. Medical assistants
4. Physician assistants
5. Computer software engineers, applications
6. Physical therapist assistants
7. Dental hygienists
8. Computer software engineers, systems software
9. Dental assistants
10. Personal and home care aides
Healthcare related occupations are predicted to comprise 7 out of the 10 fastest growing occupations! The ageing of America is a predominant factor for this exponential growth.
Big job Growth
The top ten occupations with the largest expected job growth follow.
1. Retail salespersons
2. Registered nurses
3. Postsecondary teachers
4. Customer service representatives
5. Janitors and cleaners
6. Waiters and waitresses
7. Combined food preparation and serving workers including fast food
8. Home health aides
9. Nursing aides, orderlies, and attendants
10. General and operations managers
If one considers the above listed job titles in the context of social change it is easier to understand how lifestyle changes lead to service demands thus job increases. For example, poverty of time is a force that leads to greater need for janitorial services and restaurants.
Professional and related jobs are forecasted to grow faster than other occupations. It is expected that this classification will add about 6 million new jobs by 2014. Service related jobs will have the greatest number of openings, but these jobs will be based largely on replacement needs. It is expected that these jobs will be just over 13 million. Jobs with high replacement needs generally have low pay and low educational requirements.
Follow the Money
The majority of high paying jobs are not among those with the largest growth rates. Education is the key to higher earnings. Take a look at earnings based on educational attainment. Earnings gaps are widening among those with varying levels of education and this trend is expected to continue. For example, a person with a Bachelor's degree can expect, on average, to earn over $18,000 per year more than a person with just a high school diploma. The annual earnings listed below are based on findings for year 2005.
| Education Level |
Annual Compensation |
| Doctoral degree |
$73,892 |
| Professional degree |
71,240 |
| Master's degree |
58,708 |
| Bachelor's degree |
48,724 |
| Associate degree |
36,348 |
| Some college but no degree |
33,956 |
| High school diploma with no college |
30,316 |
| No high school diploma |
21,268 |
The bottom line: More Education Leads to More Remuneration.
Robert Kenneth
OLB Group
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